Vitro unit gets contract in Spain, sees sales up

Date: 25 September 2003
Source: Forbes.com

Date: 25 September 2003

A unit of Mexican glassmaker Vitro SA said on Wednesday it won a contract in Spain that will help the unit boost sales by 20 percent in 2003.Vitro Cristalglass, Vitro's European subsidiary, was selected to supply glass for the construction of the Universal Culture Forum in Barcelona.

"With the 2004 Barcelona's Forum project, Vitro Cristalglass will generate close to 20 percent higher sales than last year," Fernando Flores, president of Vitro's flat glass division, said in a statement.

Vitro Cristalglass had sales of about $100 million in 2002, which accounted for about 8 percent of the flat glass business annual sales. Flat glass makes up 47 percent of Vitro's total sales, the company said.

Vitro shares fell 1.5 percent to 8.66 pesos in early afternoon trading at the Mexican stock exchange but its New York-traded shares rose 1.27 percent to $2.39.

600450 Vitro unit gets contract in Spain, sees sales up glassonweb.com

See more news about:

Others also read

Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.
KUB Malaysia Bhd has accepted an offer from Nippon Sheet Glass Co Ltd (NSG) to acquire its 15% stake in Malaysian Sheet Glass Bhd (MSG) for RM32.6 million in cash, or RM2.68 per share.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).

Add new comment