Schott Glas: Investment of 300 million euros planned

In spite of the weakness of the world economy and negative influences from industry the Schott Group anticipates sales of 2 billion euros in the current fiscal year (to Sept. 30, 2002).

We have the opportunity to get through the current fiscal year on a successful business basis, to strengthen our competitiveness and to create new growth potential”, said Chairman of the Board of Management Dr.Leopold von Heimendahl at the Carl-Zeiss-Stiftung's annual financial press conference.

The current business situation is marked by stable demand for Ceran® glass-ceramic cooking surfaces as well as ampoules and vials for pharmaceutical purposes. In contrast Schott is feeling some restraint in the Advanced Optical Materials & Components and Opto-Electronics strategic business units.

It is Schott's aim to maintain its productivity and innovation offensive even in times of difficult economic developments. To this end 300 million euros are being invested in the 2001/2002 fiscal year, a third of which is directly in future businesses such as microlithography and photovoltaics. To be better equipped to tackle the global competition, since the start of the new fiscal year Schott has reorganized its corporate structures including the bundling of competences and the setting up of strategic business units.

In the 2000/2001 fiscal year the Schott Group increased its sales by 6% to 2.0 billion euros of which foreign business accounted for 79%. The annual surplus at 52 million euros was at the same level as the previous year. Cash flow before profits taxes improved in line with the business situation by 65 million euros to 345 million euros and reached 17% of sales. At 279 million euros investment in tangible assets rose by a third. At September 30, 2001 the Schott Group employed 19,800 people (1999/2000: 19,600), of whom 9,800 were in Germany.

600450 Schott Glas: Investment of 300 million euros planned
Date: 4 March 2002
Source: Schoot

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