Glaston Technologies Reports Strong Growth for 2003

The Kyro Group has reported that its Glaston Technologies, which includes Tamglass and Z. Bavelloni, saw strong growth in 2003, despite the economic cycle and strong euro. The company's sales grew 68 percent to EUR 198.4 million (approximately $241 million USD), and operating profit before amortization of goodwill grew 27 percent to EUR 19.7 million (approximately $24 million USD).

According to the report, in 2003 Bavelloni and Tamglass launched close co-operations in sales, maintenance and logistics with the One-Stop-Partner concept, which offers complete machinery package deliveries.

"Our success at Vitrum with record high orders [last] July was beaten again in December by a new record amount of orders," said Pentti Yliheljo, Kyro Group president and chief executive officer. "The good order intake in December indicates strong approval of the One-Stop-Partner concept among our machinery customers."

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