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Kyro sees gains in first half of 2006, Glaston down

Post Time:Nov 12,2013Classify:Industry NewsView:45

While Finland’s Kyro Corp. reported gains in net sales and operating profits in the first half of 2006, numbers for its Glaston Technologies business sit slightly lower than the same period last year, company executives reported during a news conference Oct. 25 held in conjunction with the Glasstec trade fair in Germany last week. Glaston Technologies consists of Finish companies Tamglass, a manufacturer of glass processing machinery, and Uniglass, a tempering machine maker. The group also contains Italian companies Z. Bavelloni, maker of pre-processing machines, and toolmaker DiaPol. Kyro Corp. is the parent company of Glaston Technologies. Kyro’s net sales increased from $158.6 million in the first half of 2005 to $161.3 million the same period this year. The company’s profits increased 13.3 percent from $8.3 million from first half 2005 to $9.4 million in the same period this year. The first half of 2006 did not bode as well for the Glaston Technologies business, as net sales fell slightly from $140.8 million in the first half 2005 to $139.2 million in 2006. Operating profits suffered a bit more in the half, falling from $13.7 million in the first six months of 2005 to $10.5 million in the same period this year. “All continents are very active, but Europe and Asia are the reasons for business being a bit sluggish,” said Pentti Yliheljo, president and chief executive officer of Kyro Corp. and Glaston Technologies. At the close of the second quarter, Glaston’s order backlog was $125 million, down from $155 million at the same point last year. New machine orders for the first six months of 2006 reached $107 million, down from $129 million in the same period last year. Yliheljo said new machine orders since the close of the second quarter will help business rebound in the second half of the year to reach projected levels higher than in 2005. New orders in August alone reached $33 million, he said.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/kyro-sees-gains-first-half-2006-glaston-downAuthor:

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