Glaston Sales Down; North American Demand
for Machines ‘Weak’
Glaston of Finland has reported a 4.9 percent drop in 2011 net sales compared
to the previous year, according to the company’s 2011 financial report.
Consolidated net sales totaled $189.7 million (142.7 million EUR), down
from $198.6 million in 2010.
\Company officials have attributed the loss to market conditions.
“ In 2011 Glaston’s operating environment and market situation remained
challenging,” says Arto Metsänen, president and CEO. “At the beginning
of the year there were signs of growth, but in the second half the problems
of the world economy were reflected in our customers’ willingness to invest
and led to the postponement of larger investment decisions.”
The cautiously positive development of the glass fabricating market in
the early part of 2011 slowed in the second half of the year, according
to the report. In North America, demand for machines remained weak, the
The South American market held its own throughout the year. In Western
Europe, demand remained weak, while in Eastern Europe the glass processing
machine market picked up at the end of the year. In Asia, the leveling
off of the market that began in the second quarter continued in the second
half of the year.
Orders received in the machines segment totaled $118.6 million in 2011,
according to the report. In January-December 2011, machine net sales totaled
$119.6 million, down from $126.3 million in 2010.
The restructuring of the machines segment was completed in July when the
previously separate pre-processing and heat treatment factories in Brazil
were combined into a single manufacturing facility.
Compared with the previous year, the services segment grew in Asia, South
America and North America. Orders received in the services segment totaled
$41.6 million in 2011. In January-December 2011, net sales totaled $41.3
million, compared to $42.5 million in 2010. During the year, no significant
changes took place in the segment’s worldwide maintenance service network
and number of service locations.
The software solutions segment’s most significant market areas in 2011
were Central, Western and Northern Europe, North America and Japan, according
to the report. Orders received in the software solutions segment totaled
$27.8 million in 2011. In January-December, the net sales of that segment
totaled $31 million, compared to $32 million in 2010.
Glaston officials expect that 2012 net sales will be at least at the 2011
level and that the operating result will be positive. Growth in the Asia
market is expected to level off. In North America and the EMEA (Europe,
the Middles East and Africa) area, the market will also continue to be
challenging. The positive development of the South American market is
expected to continue.
PPG Completes Acquisition of Dyrup
PPG Industries of Pittsburgh has completed the purchase of European coatings
company Dyrup A/S, based in Copenhagen, Denmark, from its owner, Monberg
& Thorsen (M&T), according to the company. The final transaction
value, including assumed debt, was $150 million USD (115 million EUR),
subject to customary post-closing adjustments. M&T is a public holding
“We are pleased to begin the processes of integrating Dyrup and its many
highly skilled employees into our European business and of securing the
future for Dyrup’s brands and customers,” says J. Rich Alexander, PPG
executive vice president who leads all of the company’s architectural
coatings businesses. “The acquisition of Dyrup will help grow PPG’s presence
in several key European countries where PPG today has little or no architectural
coatings presence, as well as broaden our product offerings.”
Dyrup, a European producer of architectural coatings and specialty products,
had 2010 sales of approximately $270 million USD. It employs 950 people
and operates six manufacturing facilities in Europe. Dyrup’s brands include
Bondex, Gori and Xylophene, and its products are sold primarily in Denmark,
France, Germany, Portugal, Poland and Spain through professional and do-it-yourself
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