Oberland Glass - Year Looks Grim

Oberland Glass AG has reported a further fall in turnover and profits for last year. The company said this was because of price pressures on the glass packaging market as well as the growing proportion of lightweight glass containers. Oberland generated turnover of DM648.1m in 1998, some 3.9% less than the previous year. Net profits shrank by 17% to DM21.8m. The company, which is majority-owned by French group Saint-Gobain, does not expect any improvement on the domestic glass packaging market this year. Shareholders are to receive a dividend of DM20 per DM50 share. (whole item)