JSC “Valmieras stikla šķiedra” invests an intense and successful work to implement the goals of 2012. Preliminary data for the first half year indicate that company’s turnover has reached 26.1 million LVL that is a 5% increase over the same period last year. In 2011 the total turnover already reached a record number in the company’s history - 47.7 million LVL, and the Latvian Investment and Development Agency (LIDA) and the Ministry of Economy nominated JSC "Valmieras stikla šķiedra" as an Export champion of Latvia (company exports 96% from total turnover).

“Half-year results and defined targets allow us to look to the future with confidence and that we will achieve our business objectives, and current indicators show that we will be able to ensure steady growth in annual terms. Currently, there is a substantial work managed on the new fiberglass one stage furnace construction and entering into new contracts for the sale of products that will provide additional stability and benefits for the company. This, of course, requires employees’ ability to mobilize and large so-called invisible work throughout the company,” emphasizes chairman of the JSC „Valmieras stikla šķiedra” board Andris Oskars Brutāns.

JSC "Valmieras stikla šķiedra" is focused on the development and innovation. Planning the long-term performance, we've done a lot in the company's modernization and progress. The significant financial resources - 72.92 million LVL have been invested in the period of 2001-2012 (including) to raise the efficiency of the production process; the work continues to develop new projects and ideas to meet customer needs and expectations.   

It should be mentioned that it is planned to invest the 6.66 million LVL into the company in 2012. The main investments are associated with the implementation of the project "Introduction of new high-SiO₂ glass fiber one stage technologies and products to the JSC "Valmieras stikla šķiedra"", which is supported by LIDA. The project provides a construction of new glass melting furnace with aim to produce a glass fiber with high temperature resistance (1000⁰+C) using the latest and most advanced technology. Overall, the 4.57 million LVL will be invested in this project, of which 976 thousand LVL will be co-financing of LIDA and 3.60 million LVL JSC "Valmieras stikla šķiedra” funds.

JSC "Valmieras stikla šķiedra” management informs that the company's unaudited financial statement of half-year of 2012 will be available on 03.08.2012. at http://www.nasdaqomxbaltic.com/.