Latest News in Fabrication Glass

  • Mexican glass maker Vitro posts 4Q net loss $343M vs. net $48M

    April 1, 2009
    Mexican glass maker Vitro SAB Tuesday reported a net loss of $343 million for the fourth quarter of 2008 as sales fell and financial costs increased on derivatives losses and a weaker peso.In a press release, Vitro said the net loss compared with a profit of $48 million in the fourth quarter of 2007.Financial costs increased to $446 million from $23 million on losses associated with natural gas...

  • Vitro reached stay in litigation with derivatives financial counterparties
    March 17, 2009
    Vitro S.A.B. de C.V., Mexico, announced today that has reached stay agreements with Credit Suisse, Calyon, Merrill Lynch, Barclays and Citibank, counterparties of derivative financial instruments, according to a March 17 company release.In accordance with these stipulations, the parties have agreed to a continuance of the deadline for the filling of Vitro’s initial responsive pledging in...

  • Alcoa unveils plan to cut dividend, slash costs
    March 17, 2009
    Aluminum producer Alcoa [parent company of Kawneer NA, Norcross, Ga.] said Monday it plans to slash its quarterly dividend by 82 percent and sell $1.1 billion worth of shares to bulk up its cash cushion amid the recession.The Pittsburgh-based company also said it plans to cut costs by more than $2.4 billion annually by 2010. Alcoa said its actions will reduce capital spending by an...

  • Alcoa desperate for cash
    March 11, 2009
    U.S. aluminum giant Alcoa [Pittsburgh, parent company of Kawneer NA, Norcross, Ga.] is so desperate to conserve cash amid a metal price slump that it is willing to consider selling a strategic stake to a company such as Chinalco.Alcoa, which in 2001 had a larger market value than BHP Billiton, is now worth just $4.9 billion amid a dramatic slump in aluminium prices. That compares to the $38....

  • Glaston publishes 2008 financial statement bulletin
    February 10, 2009
    President and CEO Mika Seitovirta and CFO Kimmo Lautanen presented Glaston Corp.'s January–December 2008 financial statement bulletin today."The global financial crisis considerably weakened the glass processing machine market in the second half of 2008," Seitovirta said. "The development is particularly evident in orders of new machines. During the final quarter of the year...

  • Apogee Enterprises Q3 profit rises
    December 18, 2008
    Value-added glass solutions provider Apogee Enterprises Inc. reported a rise in the third-quarter net earnings from the year-ago period primarily due to higher revenues. The company also reaffirmed its fiscal 2009 earnings per share view. The Minneapolis, Minnesota-based company reported a rise in third-quarter net earnings to $17.65 million, or $0.63 per share, from $11.0 million, or $0.38 per...

  • Contractors urge to include infrastructure investment

    October 13, 2008
    Members of the Associated General Contractors of America, Washington, D.C.,  today urged House Democrats to develop an economic recovery plan that includes provisions to boost construction activity during an Economic Forum with leading economists, according to an Oct. 13 AGC release."A significant boost to construction in the form of increased infrastructure investment will create...
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What's Hot

  • Viracon to invest $30 million in new coater at Owatonna facility
    Viracon, Inc. officials announced that the glass fabricator will make an investment of more than $30 million at its Owatonna, Minn., facility, to install a new coater. The company decided to install the new coating technology in Minnesota because the Owatonna facility is centrally located and has the most extensive product capabilities and technical talent, according to a release....
  • PPG announces executive appointments; McGarry to lead flat glass businesses
    Officials of PPG Industries announced several executive appointments, February 21, that are effective immediately.Michael McGarry, PPG executive vice president, has assumed leadership responsibility for the company’s flat glass businesses. He will also lead PPG's architectural coatings businesses in the Americas and Asia Pacific, as well as the Europe, Middle East and Africa (EMEA) region....
  • ABI sees strongest growth since November 2007
    As the prognosis for the design and construction industry continues to improve, the Architecture Billings Index is reflecting its strongest growth since November 2007, according to the American Institute of Architects. The January ABI score was 54.2, up sharply from a mark of 51.2 in December.“We have been pointing in this direction for the last several months, but this is the strongest...