4 June 1998: Latvia“s Valmiera Glassfibre said it expected to overshoot its 1998 turnover target by 500,000 lats due to good seasonal demand in a key product.
“Judging by contracts, Valmiera“s 199…
4 June 1998: Latvia“s Valmiera Glassfibre said it expected to overshoot its 1998 turnover target by 500,000 lats due to good seasonal demand in a key product. “Judging by contracts, Valmiera“s 1998 turnover could come to 11.5 million lats compared with the earlier targeted figure of 10.6 million lats,” Valmiera finance manager Imants Saulitis told reporters. The company said its four-month 3.7 million lat net turnover was well within the yearly target, which may be overshot due to good prospects for its wall-coverings exports. “Our wall coverings production is to double, according to our 1998 contracts, reaching nine million square metres from four million last year,” Saulitis added. The coverings are almost entirely exported to Poland, Saulitis said. Valmiera has a 1998 net profit target of 850,000 lats, up from 740,000 lats in 1997, and is quoted on the secondary list of the bourse and has German Glasseiden Gmbh Oschatz as its main strategic investor with 49%.