Glassex
Seminar Programme Hits the Nail on the Head
The Glassex 2004 Seminar Programme – now a key feature of the UK
glass and glazing industry’s leading annual trade event - will continue
to reflect industry trends with a diverse agenda, say organisers EMAP
Maclaren. However, whilst concentrating on current issues, the seminars
will also focus on the immediate future of the industry and the challenges
facing it.
The four day seminar programme - which takes place at Glassex from Sunday
14th to Wednesday 17th March inclusive at the NEC, Birmingham – has
been designed to offer visitors a good mix of topics on a variety of issues
faced by fabricators, installers and other specifiers of glass and glazing
related products. The sessions will be hosted and presented by some of
the leading experts in the field, including key Glass & Glazing Federation
(GGF) personnel. Highlights of the programme include a session on the
future of glass recycling, health and safety updates and the facts about
the Approved Document L 2005.
All seminars are free of charge to Glassex visitors, but there is limited
availability for each session and places are booked on a first come first
served basis. Interested parties are advised to register for their chosen
sessions as soon as possible via the Glassex website, www.glassex.com,
or by emailing jennifer.calvert@emap.com.
A complete Seminar Programme can also be found here
Dale
Joinery Collapses with £18m debts
Rochdale based Dale Joinery has gone into receivership with reported debts
of £18.5m, threatening nearly 200 jobs.
Managers broke the news to staff on Monday afternoon, hours after drivers
were ordered not to deliver goods until cash on previous orders was collected.
The move into receivership follows a failed attempt last week by directors
to sell the joinery centre, which is based on the Trans Pennine Industrial
Estate, Gorrells Way, Queensway.
London-based receivers, Ernst and Young, has appointed Simon Allport and
Garry Wilson as joint administrative receivers for Dale Joinery. They
said:
'The company has a total of 195 employees on the Rochdale site and a further
64 employees in Lichfield in the West Midlands.
'The reason for this move is that there has been slow trade in the last
several months and then a bid to sell off the business that didn’t
go through.
'We will be trying to sell the company as a going concern. It is too early
to say what the effect will be on jobs.
'We will always try to keep the company’s and employees’ best
interests at heart. And we will speak to employees as soon as possible.'
The firm was founded in 1973 by Bill and Joe Thompson and production moved
from Dane Street to the £1.3m Queensway site in 1989.
Asahi
Group Back in Profit for 2003
Asahi Glass has reported its consolidated results for fiscal year ending
December 31st 2003. On net sales of Y1,243bn (2002: Y1,295bn) the company
has reported net income of Y53.6m (against a loss of Y3.9m in the previous
year). While its glass businesses accounted for over half the total sales
(Y664bn; in 2002: Y708bn), its share of the operating income fell from
Y37.8bn in 2002 to Y35.5bn in 2003.
The company's glass operations consist of 38 companies in Japan and 155
companies overseas (including 103 companies under the Glaverbel umbrella
in Europe and 18 companies of AFG Industries in the USA).
Geographically, the Group performed well in its domestic market (increasing
operating income from Y15.2bn to Y26.2bn on reduced sales of Y680.2bn
(2002: Y775.8bn) and Asia in general, but operating income and sales both
fell in the USA, while in Europe sales were up (from Y258bn in 2002 to
Y274bn) but operating profilts were down from Y19.4bn to Y17.1bn.
'In Europe, demand has grown at a healthy pace and sales were brisk in
Central and Eastern Europe (particularly in Russia)', the company explains.
'In contrast, Western Europe remained in low gear until the late fall
of 2003, mainly because of economic weakness, but signs of a recovery
began to appear toward the end of the year'.
Shield
Roof Customers Grow 33.6% in Fourth Quarter of 2003
Synseal
says that it has seen dramatic growth in recent years, and it continues
to expand. Some of this growth has come from new customers - in the final
three months of 2003 Synseal set up and began trading with 76 new Shield
and Global customers. These are in addition to the new Global conservatory
roof customers who all came on stream when the roof was launched in 2003.
Unlike Shield, Global is a roof for all systems.
Synseal’s Shield roof customers are also growing. ‘On a like-for-like
basis,’ says Nick Dutton, Sales & Marketing Director of Synseal
Extrusions, ‘we looked at nearly 250 Shield roof customers who were
buying in the last three months of 2003, and found that they had grown
33.6% compared with the same three months of 2002.
‘Everyone – or nearly everyone – can see that the conservatory
market is continuing to expand rapidly,’ Nick emphasised, ‘but
not this rapidly! Selling Shield conservatories clearly enables you to
grow faster than others, and capture a greater share of this fast growing
market. Although Shield has significant benefits compared with other roofs,
our customers’ growth owes a lot to the powerful selling tools that
come with it. Almost all conservatory companies are growing fast in this
market, it’s just some are growing that much faster than others.’
Tel: 01623 443 200
Web: http://www.synseal.com
Masco
Reports Record Sales and Earnings for 2003, and Warns of European Disposals
Masco
Corporation reported on February 13th that net sales from continuing operations
for the year ended December 31st, 2003, aided by acquisitions, increased
20 percent to a record $10.9bn compared with $9.1bn for 2002.
Income from continuing operations for the year ended December 31st, 2003
was $740m or $1.51 per common share, which includes the recognition of
a non-cash, pre-tax goodwill impairment charge of $142 million ($118 million
or $.24 per common share, after tax), the majority of which relates to
European businesses that the Company plans to divest. In addition, the
Company's results include previously announced charges primarily related
to certain European businesses and income from an adjustment of the Behr
litigation accrual, which principally offset each other.
Fourth quarter 2003 net sales from continuing operations increased 18
percent to $2.9 billion compared with $2.4 billion in the 2002 fourth
quarter. Income from continuing operations for the fourth quarter of 2003
was $93 million or $.19 per common share and included a non-cash, pre-tax
charge for goodwill impairment of $137 million ($113 million or $.24 per
common share, after tax). Excluding such charge, income from continuing
operations was $.43 per common share.
The Company reviews its business portfolio on an ongoing basis as part
of its corporate strategic planning and has determined that several of
its European businesses are not core to the Company's long-term growth
strategy and, accordingly, has embarked on a plan of disposition. These
businesses had combined 2003 net sales in excess of $350 million and the
Company expects net proceeds from the dispositions to exceed $300 million.
The dispositions are expected to be completed within the next twelve months
and the Company expects to recognise a modest net loss upon the disposition
of all of these businesses. First quarter 2004 results will include a
charge to reflect those businesses that are expected to be divested at
a loss. Any gains resulting from the disposition of individual businesses
will be recognised as such transactions are completed.
The Company continues to experience favourable sales performance in early
2004, and, based on current business trends, believes that it will achieve
record sales and earnings for 2004 with full-year earnings from continuing
operations in a range of $1.80 to $1.90 per common share. Earnings guidance
for 2004 includes a reduction of approximately $.05 per common share resulting
from the absence of earnings related to the European businesses to be
divested.
Sales by segment for 2003 versus 2002 were:
- Cabinets and Related Products sales increased nine percent;
- Plumbing Products sales increased 30 percent;
- Installation and Other Services sales increased 31 percent;
- Decorative Architectural Products sales increased 12 percent; and
- Other Specialty Products sales increased 16 percent.
Masco Corporation 2003 Highlights:
Full-Year 2003
- Net sales from continuing operations increased 20 percent to a record
$10.9bn.
- Key retailer sales were up 10 percent to approximately $3.4bn.
- Income from continuing operations was $1.75 per common share excluding
the impact of a goodwill impairment charge.
- The Company retired approximately $430m of Company debt during 2003.
- The Company repurchased 37 million shares in 2003 including approximately
2 million shares for employee long-term stock incentive plans.
- Working capital (defined as accounts receivable and inventories less
accounts payable) as a percentage of sales improved to 18.1 percent of
sales at December 31st, 2003 from 22.5 percent of sales a year earlier.
- The Company has approximately $1.3bn of cash and marketable securities
at year-end.
Fourth Quarter 2003
- Net sales from continuing operations increased 18 percent to a record
$2.9 billion.
- Key retailer sales were up 22 percent.
- Income from continuing operations was $.43 per common share excluding
the impact of a goodwill impairment charge compared to $.36 per common
share in 2002.
M1
Trade frames, a fabricator of Eurocell’s Ultimate 70mm window system,
has announced that the company has invested in larger premises as well
as new machinery to cope with the increase in demand.
The new 10,000 sq. ft purpose built factory is based on the Intake Industrial
Estate, Bolsover business Park in Chesterfield. M1 as the name suggests,
is located just off the M1 between junctions 29 and 30, which allows a
fast efficient delivery to the company’s trade customer base –
the company is also located only 20 minutes away from the A1.
M1 Trade supplies a number of trade customers around the midlands area
but is currently looking to widen its supply both to the north and to
the south. M1 Trade also fabricates Eurocell’s Pinnacle Bespoke Conservatory
Roof System, as well as a number of Eurocell’s Building Plastic Products.
‘We are very pleased with the way that M1 Trade is progressing. The
new factory has certainly provided the company with the facility to expand
the business, being purpose built it has allowed us to split the company
into two specific manufacturing divisions – conservatory and window.
Our customers are pleased with our service and like any business we are
continually looking to grow by adding new customers and new products.’
Commented Lee Earl, MD, M1 Trade frames.
Tel.: 01773 842 100
Web: http://www.eurocell.co.uk
K2
Hosts Customers at Work and Play in Gleneagles and Launches Installer
Scheme
K2,
the UK conservatory roofing system manufacturer, played host to more than
200 customers last week as the company held its ‘Work & Play’
conference in the Five Star surroundings of Gleneagles.
Part of the company’s investment in marketing and customer support,
the customer conference provided a showcase for K2’s new product
range, sales and marketing initiatives and drive for innovation in the
conservatory industry.
Comments Managing Director of K2, Sally Fielding (pictured below): ‘The
customer conference supports our strategy of aiming for the number one
market position. We have achieved an awful lot over the past four years,
and a large part of that success has been thanks to the loyalty of our
customer base and their active participation in our product development
programmes. The Work & Play conference is both a way of thanking our
customers for their support and an opportunity to lay our cards on the
table, make clear our objectives for pushing innovation to the limits
in the industry and explain our progress so far.’
The K2 Customer Conference provided an excellent opportunity for industry
professionals to meet up in a relaxed environment. The gala dinner was
hosted by Bolton comedian Peter Kay, who was happy to support Bolton’s
second most famous name and delegates were able to make the most of Gleneagles’
fabulous sporting facilities once the conference was over. K2 also held
a free prize draw, where the main prize was a stunning Lotus Elise sports
car.
K2
used the customer conference to unveil its new ‘Approved Installer’
scheme, which has been devised in association with the Federation of Master
builders. The scheme has been devised to offer advantages to both the
installer and the consumer and K2 highlighted its potential to become
a benchmark not only for the conservatory industry, but for the entire
home improvement sector.
The conference also gave K2’s customers the opportunity to view a
wide range of product additions and enhancements prior to their actual
launch. Amongst these was the new 35mm Aspire system, which will be available
exclusively to premium retail installation companies. This fully sculpted,
next generation system can accept thicker 35mm glazing, making it both
robust and stylish for the top end of the market.
Sally Fielding continues: ‘The breadth of product improvements we
are introducing demonstrates our on-going commitment to using research
& development to offer the retailer and installer tangible benefits.
We have focused on increased ease of installation, improved product performance
and greater consumer choice to ensure that product enhancements are meaningful
and have real commercial benefits’.
Status
Fabricators Move up a Gear in Benefitting from On-Line Technology
On-line
ordering through Synergebuild increased to over 70 per cent of orders
received as Status Systems completed its first month of trading in 2004.
This is an increase of over 20 per cent since last autumn, putting Status
well on track to reach its target of over 95 per cent of total orders
to be received through Synergebuild by the end of 2004.
Synergebuild is the e-commerce division of Status’ parent company
Deceuninck, the PVCu extruder. It provides an internet based solution
for purchasing and stock control. By creating a seamless electronic trading
environment Synergebuild eliminates duplication and human error, reducing
time spent on administration.
‘As familiarity of Synergebuild grows with use, our fabricators are
really beginning to see and feel its benefits, both in terms of costs
and time savings,’ said Status general manager Chris Foreman. ‘We
have customers telling us that they are now taking less than an hour to
place an order using Synergebuild, when previously it would take several
hours. Factor in the elimination of mistakes and you have an exceptional
business tool.’
Dale Joyce, managing director of Status fabricator Pyramid Windows Norwich
Ltd confirmed:
‘Before using Synergebuild it would take me up to five hours to put
an order together. Now it takes me approximately 45 minutes.’
Synergebuild enables the fabricator to streamline the whole purchasing
process. Orders can be placed 24 hours a day, seven days a week, with
immediate email acknowledgement. Real time stock levels are accessible
on the Synergebuild website to allow for better planning.
Roofing
industry experts have concluded that most falls are the result of fragile
roofs, fragile rooflights and unguarded edges. The main findings of the
project are being published in a BRE Information Paper - Designing Roofs
with Safety in Mind - which will be available in April 2004.
The experts, who have been examining Health and Safety Executive prosecutions
data to investigate falls from heights associated with roofing, also found
that a significant proportion of the prosecutions were concerned with
untrained 'roofers' who either ignored or lacked training in matters of
safety, and were working to inadequate method statements and risk assessments.
The committee met to look at design decisions that could have contributed
to the underlying causes of accidents.
The findings of the next stage of the project will be published as a Good
Practice Guidance in March 2005. This guidance will be based on reviews
of current good practice guidance and a wide range of BRE roof condition
surveys.
The
relatively buoyant state of the UK construction industry is reflected
in bullish figures revealed by the British Woodworking Federation (BWF)
Timber Window Accreditation Scheme’s first independent report on
the state of the UK’s timber window sector.
The survey was compiled using telephone interviews with a sample of 100
timber window manufacturers across the whole industry. This is the first
in a regular series of bi-annual reports commissioned by the Scheme as
a means of measuring performance trends in the timber window market throughout
the country.
Sales (by volume) for the six months March to August 2003 showed an increase
of 21% compared to the same period last year, and an increase of 25% on
the previous six months (September 2002 to February 2003).
'Inevitably, one has to take into account the possibility of seasonal
variations, and these will become more apparent as time passes,' said
Adam Frankling, the Timber Window Scheme Manager. 'More meaningful comparisons
will start to become apparent into the second year, when we have data
from three or four reports to compare.
'However, the information we have from this first report is already
giving us a pointer as to how the industry is faring and the outlook is
certainly promising.'
With 40% of manufacturers reporting an increase in sales during the March
to August 2003 period, and 15% reporting a decrease, a net 25% of the
industry grew their sales of timber windows in comparison with the previous
six months. Of these, some 68% saw business boom by more than 10%. Meanwhile,
compared with the same six months in 2002, there was still a net 21% who
grew their sales.
The attitude of the industry is also encouragingly upbeat with 20% of
those questioned confident timber window sales will increase in the six
months September to February 2004, even though this is generally regarded
as the quieter season. Equally encouraging is the net 29% with expectations
of higher sales for the next six months than they experienced during the
same period last year.
'It’s good to see the industry in such a buoyant mood,'said BWF Director,
Richard Lambert. 'I think we can justifiably claim some of the credit
with the efforts the Scheme has put into raising the profile of high quality
timber windows.
'We are obviously very close to our members and have a good idea of how
they are faring, but part of the value of this survey is that it’s
conducted right across the industry and not just amongst our Timber Window
Accreditation Scheme Members. It forces us to take a step back and view
the market in a much wider perspective.
'Also, because it’s carried out by an independent organisation, the
results are guaranteed to be totally unbiased.'
The single biggest problem faced by a resurgent industry is the lack of
skilled staff, which was something mentioned by 43% of respondents to
the survey. Other than that, this first report has little in it to disappoint
the industry.
Employment levels grew, investment in new plant is widely forecast, with
28% planning to invest during the coming year, and profit expectations
are high.
In the light of the commitment by all BWF Timber Window Accreditation
Scheme manufacturers to using timber from independently certified, properly
managed sources by the end of 2004, it is encouraging that the report
found that 80% of hardwoods and softwoods used in window manufacture now
come from sustainable sources.
'That alone gives us great satisfaction that the industry is moving in
the right direction,' said Richard Lambert.
The survey was carried out, and the subsequent report produced, by Michael
Rigby Associates. It was sponsored by the BWF Timber Window Accreditation
Scheme.
Copies are available free of charge from Michael Rigby Associates Tel:
01453 521 621 or via http://www.521621.com
The
number of people going bankrupt has soared by nearly a third during the
past year. During the final three months of 2003, 10,271 people in England
and Wales became insolvent, 12% more than during the previous quarter
and a 28.9% jump on the same period of 2002.
But at the same time the Department of Trade and Industry said the number
of companies that became insolvent fell to 3,316, 1.9% less than during
the three months to the end of September and a 22.5% drop on the same
quarter of 2002.
The figures come the day after the Bank of England's Monetary Policy Committee
raised interest rates by 0.25% to 4%, a move which is likely to increase
the pressure on people who are already troubled by debt.
Debt advice group Debt Free Direct estimates that yesterday's rate hike
will increase the number of people who are struggling to keep up with
their debts from 2.3 million to 6.46 million.
Chief executive Andrew Redmond said: 'The reason why there are so many
individual insolvencies is a direct consequence of the high level of consumer
debt.
'More and more people have overstretched themselves, then there is a change
in their lives, their income goes down, and they can't afford their debts
any more.'
He added that he thought there was a danger that the number of people
going bankrupt would increase dramatically once the new Enterprise Act
comes into force in April, reducing the period of bankruptcy from three
years to one year.
UK
Company Profitability Enters Fifth Year of Decline
The
collapse in profitability of UK companies continued into the second quarter
of 2003, according to Experian® in its latest Corporate Health Check. The
average return on capital among leading British companies across the industrial
economy fell from 5.76 per cent in the 12 months to March 2003 to 5.23
per cent in the twelve months to June 2003.
'UK corporate profitability has fallen for 17 consecutive quarters and
is now barely one-third the level achieved in early 1999,' said Peter
Brooker of Experian, the author of the report. 'However, this was the
first time in more than two years that the decline from the previous quarter
has slowed down. It's too early to say if this is the start of a
turnaround and a return to growth in corporate profitability, but it is
a hopeful sign.
'The Alcoholic Beverages sector is now the only one out of the 24 industry
sectors studied in the Health Check to have seen any growth in profitability
over the last four years. 19 sectors are down from their peak by over
a third and the worst performing – the Media, Engineering, IT and
Telecommunications – by 90 per cent.
'This period reflects yet another of contraction of the manufacturing
sector, which now accounts for just 17 per cent of Gross Domestic Product
(GDP), compared with 21 per cent in 1997. The current level of output
in the manufacturing sector is the same as in 1994 and investment by manufacturers
has fallen to its lowest level for 20 years. According to the ONS,
129,000 jobs were lost in manufacturing in the last year, while the financial
and business services sector lost a further 22,000, agriculture &
fisheries 36,000 and energy & water 12,000. At the same time,
the public sector has grown by almost 160,000 jobs.
'Manufacturers are failing to benefit from the slight upturn in the global
economy, principally because 60 per cent of UK goods exports are to the
EU, where demand remains weak. The positive exchange rate for exporters
to the eurozone isn't sufficiently strong enough to outweigh the depressed
economic conditions in Europe or the effects of the weak dollar.
In addition, all sectors have to live with higher business costs, including,
since April, the rise in employers' NIC. As a result, business confidence
has fallen in ten of the UK's 12 regions, with the two exceptions only
narrowly escaping a fall themselves, according to the latest Regional
Trends Survey, published by the CBI and Experian's Business Strategies
division.'
The decline in corporate profitability is across the board, affecting
industries serving both domestic and export markets as well as manufacturing
and services. Of the 24 industries analysed by Experian, 17 have seen
their profitability fall in the last 12 months, 11 by more than one-fifth
– one more than in the previous quarter.
The slowdown has affected the north of the country more than the south,
particularly the North West, North East and Scotland. The exception
in the north is Yorkshire & Humberside, which recorded its fourth
consecutive quarterly improvement in profitability. However, a majority
of the country is affected, with profitability falling over the last year
in the South East (7.77 per cent in Q2 2002 to 5.29 per cent in Q2 2003),
Wales (2.02 per cent to 1.38 per cent), the West Midlands (11.47 per cent
to 7.91 per cent), the North West (6.51 per cent to 4.51 per cent), the
North East (13.62 per cent to 10.64 per cent) and Scotland (7.23 per cent
to 5.24 per cent).
In contrast, the South West, East Midlands, East Anglia and Yorkshire
all recorded better profitability in the second quarter of 2003 than in
both the previous quarter and a year earlier. The difference between the
East and West Midlands can be put down to less of a reliance on heavy
engineering and the motor industry and a more broadly based economy that
includes more Food Manufacturing and Textiles companies.
The reversal in the downward trend in Wales after five years' decline
continued in the latest quarter, albeit more slowly than in the last quarter.
The average return on capital in Wales improved from 1.35 per cent to
1.38 per cent in the second quarter of the year.
'The financial results in the second quarter of 2003 bring home the imbalances
in the UK economy between the consumer and public sector economies on
the one hand and the industrial economy on the other,' concludes Peter
Brooker.
'Although there are signs that growth in consumer spending may be slowing
slightly and consumers are less confident about prospects for the economy,
they are still spending robustly; public sector recruitment and spending
on infrastructure and services are strong, but the performance trend of
18 of the 24 industry sectors covered by the Health Check was weaker in
the latest quarter than in the previous quarter – up from 10 sectors
in the previous quarter.
'The economic outlook does appear to be improving, but the signals are
very mixed and it will take some time before any upturn is reflected by
improvements in corporate profitability. In the meantime, companies
are refraining from committing to any investments to improve productivity
– despite the widening gap with our G7 competitors – as they
wait to see how sustained any recovery might be. Many companies
are also curtailing investment plans because of concerns over pension
fund shortfalls.
'Trading conditions remain extremely challenging. Despite the fall
in limited company failures in 2003, they are still historically high,
and an uncertain economy will lead to a further decline in profitability
and more company failures in 2004. Therefore, it is more important than
ever for companies to check the financial stability of companies they're
doing business with and the people behind them if they are to make it
through 2004.'
OFT
Revokes Home Improvement Credit Licences
Mr
Jeremy Mitchell, trading as Visions by Design, based in Hunwick near Darlington,
has had his consumer credit licence revoked by the OFT. The partnership
licence of Mr Mitchell and Mr Terence Stannard, trading as Renaissance
Home Improvements, based in Jarrow, Tyne & Wear, has also been revoked.
The licences were revoked on the basis that Mr Mitchell and/or the partnership
trading as Renaissance Home Improvements had engaged in unfair business
practices, including:
* harassing consumers by repeatedly telephoning them when they had made
it clear they were not interested in the goods and services being offered
* pressurising consumers to place orders by refusing to leave their homes
when asked to do so
* pressurising vulnerable and elderly consumers to place and/or not cancel
orders
* failing to deal adequately with consumer complaints and/or refund deposits
when the contract was unable to be fulfilled.
An adjudicator decided that the licensees were no longer fit to hold a
consumer credit licence and accordingly the licences were revoked.
Under the Consumer Credit Act 1974, businesses that offer consumer credit
or hire, or who introduce customers to businesses offering credit facilities,
must have a consumer credit licence. The OFT has a duty to protect the
interests of consumers by monitoring the fitness of applicants and licence
holders.
In considering fitness, the OFT will take into account a number of factors
including:
* any offence or conviction of violence or dishonesty carried out by the
business or anyone involved in running the business
* failure to comply with the provisions of the Consumer Credit Act or
other consumer protection legislation
* consumer complaints
* evidence of unfair business practice
* evidence of discrimination on grounds of sex, colour, race or ethnic/national
origin.
Christine Wade, Director for Consumer Regulation Enforcement, said:
'Licensees must trade honestly, lawfully and fairly with consumers and
be trusted to maintain this standard if they wish to continue providing
credit to consumers.'
Everwhite
Joins the British Plastic Federation
Everwhite
Plastics Ltd, a supplier of PVC-UE roofline products, has joined the British
Plastic Federation (BPF). Ken Davies, Managing Director of Everwhite says,
‘The knowledge and experience offered by the BPF combined with Everwhite’s
expertise and extensive investment programme, promises to make for a winning
combination. We invested £2.4 million in 2003 alone, into one of
the widest ranges of roofline products in the industry.
‘Representing approximately 80% of the industry’s turnover,
the BPF aims to protect, promote and expand the industry by uniting members
and sharing expertise, giving the industry a unified lobbying voice both
at Government level and in Europe. The BPF is constantly striving to change
and improve the industry, which creates a synergy with Everwhite’s
unwavering commitment to product development, quality and service.’
Tel: 01685 882 447
Saint-Gobain
Expands its Presence in Romania in Glass Manufacturing for the Construction
Industry
In
view of the strong growth in the South-East European markets, Saint-Gobain’s
Flat Glass Division (Saint-Gobain Vitrage) has decided to strengthen its
presence in the region by building a new float line. The new plant will
be built at the Calarasi site in Romania and will manufacture high quality
flat glass using Saint-Gobain's latest technological developments.
Products manufactured by this plant will be sold in the domestic Romanian
market and exported to other countries in South-East Europe.
The total amount of the related investment will exceed €100 million.
Production is due to start in 2006.
A Letter of Intent relating to this project has been agreed recently with
the Romanian authorities.
Saint-Gobain’s Flat Glass Division reported sales of close to €4.3
billion in 2003 and employs some 35,000 people. It operates in 35 countries.
Saint-Gobain Vitrage is organised by market: Saint-Gobain Glass, which
is specialised in basic glass products; the Saint-Gobain Glass Solutions
network, which processes and distributes glass products for the construction
and decoration markets; Saint-Gobain Sekurit, which is the leader in automotive
and transport glazing products, and Saint-Gobain Specialities, which supplies
glass products for household appliances, electronic goods, and commercial
refrigeration purposes.
Saint-Gobain
Vitrage Acquires a New Float Line in China
The
Flat Glass Division of Saint-Gobain (Saint-Gobain Vitrage) and its Korean
partner Hanglas started proceedings on October 8th, 2003 to purchase a
float line located in Qingdao (Shandong province) in North Eastern China.This
operation was carried out through a joint venture company held in majority
by Saint-Gobain Vitrage and Hanglas, with Luoyang the current owner of
the float line holding 10%.
Qingdao's geographic position is very favourable for the supply of the
North-Eastern Chinese market -including Beijing- as well as for exports.Qingdao
is China's third largest port and numerous daily connections with Korea
and Japan ensure a good quality service to these countries.
On the occasion of the state visit of Hu Jintao, President of the People’s
Republic of China to France from January 26th to 29th, 2004, the acquisition
of the float line was officially signed on January 28th in Paris.
This float will be renovated in 2004, to increase its capacity to 650
t/day and raise its level of quality.
This operation is an important landmark in the partnership between Saint-Gobain
Vitrage and Hanglas for their mutual development in North-East Asia. It
strengthens both partners' presence in China, the largest market in the
world for the production of flat glass.
Saint-Gobain Vitrage and Hanglas say that they will then strengthen their
position as leaders in the production of high-quality glass intended for
the building and automotive processing markets.
Proos
Roofing Deal Raises Procell’s Profile in Scotland
The
successful partnership that has flourished over recent months between
SIG Roofing Supplies Group and Premier Profiles has already been given
a New Year boost with an agreement for Premier to supply Proos Roofing
in Paisley, one of the largest roofing materials distributors in the West
of Scotland.
Proos Roofing has been part of the SIG Group for the past couple of years
and becomes the first of its distributors in Scotland to stock Premier’s
Procell range of PVCu cellular foam roofline products.
The distributor’s branch manager, June Rooney commented: ‘Premier’s
range of fascias, soffits and ancillary items is a welcome addition to
our comprehensive roofing materials offer and we are confident it will
prove popular amongst the many roofing contractors, builders and joiners
that make up our customer base.’
2003 saw Premier Profiles significantly increase its presence and turnover
across a growing number of SIG regional distributors, something which
national Procell manager, Ashley Kitson puts down to continued product
quality and marketing support: ‘The Procell range is developing all
the time and is supported by a high level of promotional support materials
and advice, which is appreciated by stockists and fitters alike.
‘Procell is now available through over 30 distributors within the
SIG Roofing Supplies Group nationwide and this latest agreement with Proos
Roofing marks a significant breakthrough for us into the Scottish roofing
market.’
BPF’s
Business Support Network Welcomes Atradius on Board
Atradius,
one of the world’s leading credit insurance and credit management
companies, has joined the British Plastics Federation’s (BPF) Business
Support Network.
Atradius, which protects €350 billion of world trade annually against
the risks of non-payment, has access to information on over 45 million
buyers worldwide and a wealth of knowledge on trade sectors, countries
and business trends. The company's products and services range from traditional
credit insurance to risk transfer, trade finance and cash collection aiming
to meet the needs of companies of all types and sizes who are looking
to protect their balance sheet and maximise cash flow.
Atradius joins eleven other companies including Barclays, AON and Listgrove.
The Network was launched in 2003 aiming to give decision makers in the
plastics industry a competitive advantage by highlighting by ‘best-in-class’
suppliers, who are invited to join the network after recommendation by
the BPF membership.
A new added benefit, forming part of the Network, is the Questions &
Answers Forum, which allows users to pose questions to industry experts.
The forum will include answers to questions previously asked in an archive
format providing a useful online resource.
'The Business Support Network gets off to a good start in 2004 by welcoming
Atradius on board.' comments BPF Business Services Manager Iain McIlwee,
'Since the launch of the network last year, we have seen it has grown
in strength and representation across all sectors from finance to legal
advice, waste reduction to training. Users of the service have added peace
of mind that they are choosing a trusted source.'
Trelleborg
Shows Favourable Trend in 2003 Financial Report
The
Trelleborg Group shows a continued favourable trend in earnings and sales
despite the challenging market situation in the Group's principal markets
during the year. Profit after net financial items increased by 61 percent
to SEK 1,091 M (677).
Several acquisitions, including Polymer Sealing Solutions with 6,000 employees
and SEK 5.2 billion in annual sales, Kunhwa of South Korea and, since
the close of the year, Metzeler Automotive Hose Systems, have contributed
to the Group strengthening its market positions and increasing the number
of employees by nearly 7,000.
Sales grew primarily in Europe and Asia. A decision was taken to invest
in a new plant in Wuxi, China.
Net sales amounted to SEK 5,351 M (4,114) during the fourth quarter. For
the full year, net sales amounted to SEK 17,960 M (17,630). For comparable
units at fixed exchange rates, net sales during 2003 increased by 1 percent
compared with 2002.
Profit after tax increased to SEK 220 M (102) during the fourth quarter.
For the full year, profit increased by 71 percent to SEK 702 M (410).
Earnings per share increased to SEK 2.65 (1.20) during the fourth quarter.
For the full year, earnings per share increased by 77 percent to SEK 8.40
(4.75).
Profit after net financial items increased to SEK 340 M (216) during the
fourth quarter, and to SEK 1,091 M (677) for the full year.
Full year 2003, excluding goodwill amortisation and items affecting comparability:
• Operating profit SEK 1,427 M (1,189)
• Profit after net financial items SEK 1,287 M (1,070)
• Profit after tax SEK 881 M (770)
• Earnings per share SEK 10.50 (8.95)
CertainTeed
Celebrates a Century of Building America
This
year, CertainTeed Corporation, a North American manufacturer of building
materials, joins the ranks of the few companies to have reached 100 years
of service.
‘CertainTeed's sharp focus on innovation has allowed the company
to weather a multitude of political and economic climates to become one
of the nation's largest and most popular manufacturers of roofing, siding,
windows, insulation, fencing, decking, railing, foundations and pvc pipe
products.’ says the company.
Founded by George Brown in 1904, CertainTeed got its start in East St.
Louis, Illinois, as the General Roofing Manufacturing Company. A short
decade later, the company slogan ‘Quality Made Certain, Satisfaction
Guaranteed’ became the inspiration for the lasting CertainTeed name.
Since its founding, CertainTeed has engineered smart, creative products
and has worked to maintain a high level of customer service. The century-old
company continues its tradition of innovation and quality design with
the recent introduction of several new products to the building industry,
including Landmark™ - Widetrack QB™ roofing, laminated shingles
designed with a wider nailing area for greater installation accuracy;
MemBrain™ insulation, a vapour retarder that defends against moisture
problems; Bufftech Prestige™ fencing employs composite technology
to create the classic look of wrought iron; and Prism Grid™ an accessory
to CertainTeed's vinyl new construction and replacement windows line that
creates the custom look of bevelled glass using patented 3M optical film
technology.
'We are proud to be among the enduring companies that have had the acumen
to thrive through a century's worth of evolving business climates,’
says Jean François Phelizon, President and Chief Executive Officer
for CertainTeed. ‘Our 100-year history is testament to CertainTeed's
expert understanding of the building industry and succession of smart
business decisions as well as the commitment and dedication of our 7,000
employees throughout the United States.
‘From day one, CertainTeed has been a strategic, forward-thinking
company - the more than 350 patents we've earned throughout the past 30
years is proof of this,’ continues Mr. Phelizon. ‘I'm honoured
to be part of a company that has risen from humble beginnings to become
one of the nation's largest and most well-respected manufacturers of building
products.’
CertainTeed is a North American manufacturer of vinyl and fibre cement
siding; vinyl and composite decking, railing and fencing; vinyl windows
and patio doors; residential, commercial and mechanical insulation; residential
and commercial roofing; pipe and foundation systems.
CertainTeed is headquartered in Valley Forge, Pennsylvania, and has approximately
7,000 employees and more than 40 manufacturing facilities throughout the
United States. The company had sales of approximately $2.5 billion in
2003.
Web: http://www.certainteed.com
Alcoa
Named One of the Best Managed Companies by Forbes
Alcoa
announced on 16th January that Forbes Magazine has named it one of the
'Best Managed Companies'.
Companies in Forbes' survey were ranked on the basis of five-year average
total return, long- and short-term sales and earnings growth, and other
yardsticks such as long-term earnings forecasts. The magazine also included
governance and accounting practices in its selection criteria. Forbes
editors and writers then also included additional factors such as market
leadership, innovation and efficiency, before selecting the best-managed
companies. Alcoa, one of only 26 companies cited, led the materials category.
In selecting the 'Best Managed Companies,' Forbes said, 'These companies
exude excellence - in how they're managed and in financial performance.'
Alcoa is the world's leading producer of primary aluminium, fabricated
aluminium and alumina, and is active in all major aspects of the industry.
Alcoa serves the aerospace, automotive, packaging, building and construction,
commercial transportation and industrial markets, bringing design, engineering,
production and other capabilities of Alcoa's businesses to customers.
In addition to aluminium products and components, Alcoa also markets consumer
brands including Reynolds Wrap® foils and plastic wraps, Alcoa®
wheels, and Baco® household wraps. Among its other businesses are
vinyl siding, closures, fastening systems, precision castings, and electrical
distribution systems for cars and trucks. The company has 120,000 employees
in 41 countries.
Web: http://www.alcoa.com