JSC Salavatsteklo, a manufacturer of flat glass, glassware, and solid sodium silicate, has, according to a recent company report, reduced net income by 3.2 times compared to the same period in 2011.
In the first quarter of 2012, JSC Salavatsteklo reduced net income by 3.2 times compared to the same period in 2011 – to RUB 81.08 million, according to a report of the company. Enterprise Revenue dropped 14.3% – to RUB 1.08 billion. The company did not provide information regarding the factors influencing the decrease in financial performance.
In September 2011, Salavatsteklo took over 42% of the shares of Ufa Plant of elastomeric materials, components and structures (UZEMIK), bringing its stake in the company to 72.25%, in a deal worth RUB 250 million.
JSC Salavatsteklo is a manufacturer of flat glass, glassware, and solid sodium silicate, with 59.6% of its share capital owned by Company RIA, OOO Invest Iskozh owning 11%, and the remaining 25.85% of the enterprise owned by three private individuals. In turn, Salavatsteklo has a 19.51% stake in OAO Iskozh and 39.6% of RIA.