Glaston Technologies Reports Half-Year Results

Kyro Group has announced that its main business area, Glaston Technologies, which includes Tamglass and Z. Bavelloni, achieved a good half-year result, despite the economic cycle and the strong euro. Net sales for the company totaled EUR 93.8 million.
"The order book of Kyro's main business area, Glaston Technologies, grew in the second quarter by 16 percent and totaled EUR 56.6 million on June 30, 2004," said Pentti Yliheljo, president and chief executive officer. "The level of the offer book for glass processing machines is also good. The positive development of the order book, alongside growth in maintenance business and demand for tools, strengthens our expectations that a market upturn in the glass processing industry is approaching."

According to a company news release, demand in the United States has been growing for glass processing machines. In the U.K., Italy and Spain and several Far Eastern markets, demand remains good as well.

In addition, Glaston Technologies is enhancing and supplementing its local custom-service and agent network. Consolidation of offices and new joint sales and service units in Shanghai and Moscow are intended to improve customer service and sales of comprehensive deliveries under the One-Stop-Partner concept and boost cross-selling.

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