Gulf Glass Manufacturing To Add New Furnace

Kuwait's Gulf Glass Manufacturing Company will put an additional glass furnace into operation by the end of August 2005, according to unnamed company sources. The move will almost double capacity. Gulf Glass Manufacturing has signed contracts covering its entire output until 2007. The company recently reached agreement with a number of Spanish companies, and also has contracts with companies from Arab countries. Gulf Glass Manufacturing, established in 1981, posted a net profit of KWD 762,000 (USD 2.6M) for the 1H 2005, up from KWD 318,900 (USD 1.1M) a year ago. The company's earnings per share (EPS) doubled to KWD 0.0223 (USD 0.076) from KWD 0.01 (USD 0.034).