Spanish container glass manufacturer Vidrala SA bought the entire capital of Belgian sector company La Manufacture du Verre for more than EUR 27 million (USD 36.7 million), Spanish financial daily Cin…
Spanish container glass manufacturer Vidrala SA bought the entire capital of Belgian sector company La Manufacture du Verre for more than EUR 27 million (USD 36.7 million), Spanish financial daily Cinco Dias reported on 5 September 2007. La Manufacture du Verre has an annual production of more than 135,000 tonnes of glass and turnover of EUR 46 million (USD 62.5 million) in the last year. The company is expected to contribute EUR 16.5 million (USD 22.4 million) to the turnover of the Spanish firm. On 27 July 2007, Vidrala posted a better-than-forecast net profit for the 1H 2007 of EUR 17.9 million (USD 24.3 million), up 30% year-on-year. Turnover increased by 14% to reach EUR 181.5 million (USD 246.5 million). Vidrala“s earnings before interest and tax (EBIT) rose by 27.9% to EUR 27.2 million (USD 36.9 million).