[Switzerland] Vetropack Group 2003: High Glass Demand In Sothern And Eastern Europe

The Swiss Vetropack Group recorded a marked increase in profits thanks to the high demand for glass packaging in Switzerland, Austria, the Czech Republic, Croatia and Slovakia. The consolidate annual profit rose to SFr 38.9M (25.6M). According to the company, this increase of 52.1% is due to growing demand for glass in eastern and southern Europe. In the financial year 2003 the group increased its consolidated turnover by 11.8% to a total of SFr 479M. In all, the company sold 3.3BN glass containers in 2003, 35% of which were exported.