Published: 2014-04-17 15:00:01 CEST
Valmieras stikla škiedra
Company Announcement

JSC „Valmieras stikla šķiedra” plans to broaden the Valmiera Glass Group by founding the company in USA

JSC “Valmieras stikla šķiedra” informs that through evaluation of the further development of the company are actions undertaken to establish the Valmiera Glass USA Corp. in United States of America. At present the management of JSC “Valmieras stikla šķiedra” is in conversations with the public institutions of USA about the possible location of the company and is solving other formalities needed for the business launch.

For the time being it’s considered that Valmiera Glass USA Corp. could start active production in the first quarter of 2015, investing USD 6.5 Million (EUR 4.8 Mill.). The company in the USA could produce the high added value glass fibre products.

Preserving the plunge and development of the company in the long-term, it’s planned to expand the positions of Valmiera Glass Group in the world market. The foundation of a company in the USA is a natural, logical and client-oriented step of the business development. Each year the sales volume in North-America grows. For example last year compared to 2012 the sales volume grown to 36%, exporting 14% of the company’s sales straight to USA and Canada. Through the foundation of the company in USA the production will be more comfortably accessible to the clients, the terms of delivery will be shorter, in long-term the profitability of the company will grow and the partnership with the client will be closer. The new plant in the USA will give new possibilities of business growth and will strengthen the positions of the company in the market of glass fibre products worldwide.

Already informed that since 2013 JSC “Valmieras stikla šķiedra” is the holding company of the company Valmiera Glass UK Ltd in Great Britain, positioning both companies together as one Valmiera Glass Group. The management of the Group based on the tendencies of the market development and the planned business results of the Group prognoses that the net turnover 2014 could reach EUR 127.02 Million where the consolidated net profit EUR 9.31 Million.

 

 

 

 

         Contacts:
         Marika Nīmante
         JSC „Valmieras stikla šķiedra” marketing project manager
         Phone: +371 64202276, +371 26635509
         Fax: +371 64281216
         E-mail: Marika.Nimante@valmiera-glass.com
         More information about company: www.vss.lv, www.valmiera-glass.com