|Emitents||Valmieras stikla šķiedra, AS (5493006XWNR6BLL15O35)|
The turnover of JSC „Valmieras stikla šķiedra” in 2011 was 47.7 Million LVL, that is 19.5% more than in 2010 and 54% more than in 2009. Comparing the export levels in 2011 and 2010, a particular growth can bee seen in India – the growth of turnover is 903%, in Russia 38%, and in Latvia 15%. The Company is exporting its production to 31 countries, where the breakdown is as follows:
The good results of last year are connected with the intensive work of the Sales department – new markets were explored and particularly good results in this area are in India. The company’s customer base has greatly expanded, especially in the US, and the good results are also linked with the increase of the output prices.
To reach these results and to expand the Sales markets the company has invested about 67 Million LVL in the last 10 years. The investments this year will reach 5.3 Million LVL, including the implementation of the project “New fiberglass direct melting technology and product introduction”, for which a contract with the Latvian Investment and Development Agency is planed, as a result of which the support of the EU Structural Funds will be gained.
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