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Nippon Sheet Glass foresees deeper losses

Post Time:May 10,2012Classify:Industry NewsView:59

Nippon Sheet Glass Co. said it slid into a net loss last fiscal year, and warned of deeper trouble ahead, soaking up restructuring costs to offset the impact of Europe's economic weakness on its core construction and auto glass operations, according to a May 10 Wall Street Journal report.

Speaking on the sidelines of a news conference, CFO Mark Lyons told Dow Jones Newswires that in the company's drive to return to the black, it will "review opportunities" to increase profitability. These could include possible "additional factory closures and with that comes job cuts," he said, according to the WSJ article.

Last month NSG Group President and CEO Craig Naylor resigned over disagreements with the board regarding company strategy.

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Source: http://www.glassmagazine.com/news-item/commercial/nippon-sheet-glass-foresees-deeper-losses-129629Author:

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