VETROTEX
Strong growth in 1997 / Three new glass fibre plants worldwide / 15% market share in Asia by 2000 / Acquisition in Germany
Vetrotex International SA (BP 929, F-73009 Chambery Cedex), with a global production capacity of some 500,000 t/y at 11 locations and sales branches in 18 countries, claims to hold a market share of close to 20% in the global glass fibre business. The medium-term target is 25%. This puts Vetrotex in second place among the global player, after Owens Corning. In 1997, the company, specialising in the production of glass fibres for the reinforcement of thermosets, thermoplastics and textiles, achieved overall sales of FRF 5bn (1996: 4.7bn). Results since 1995 were "normal and stable", explained Robert Caliari, President of the Reinforcement Division at the parent company, Saint-Gobain, at an international press conference in Paris. When questioned, he put the percentage return on sales at 5%.

Vetrotex Group sales in Europe in 1997 accounted for some 50% of the Group's global sales again, i.e. around FRF 2.5bn. European profits were lower than in 1996, which was attributed primarily to replacement investments that had been made. According to Caliari, improved organisation and broad-based product diversification had enabled Vetrotex to step up its internal and external growth on the European glass fibre market – characterised by "extreme pressure of competition" with average price drops of 10% over the past two years. A current example of this expansion policy is the acquisition of Glasfaser Regensburg GmbH in February this year, which has now been renamed Vetrotex Glasvlies (D-93055 Regensburg). The company specialising in the production of glass mats for insulation and surfacing marks a further step en route to fully integrated production, explained Antonio Ferrante, General Manager Reinforcements Europe.

Apart from acquisitions, Vetrotex is intending to grow further with three new production plants worldwide and the expansion of its internal capacity. One of the new plants is in Korea and is specialised in textile yarns for electronic applications. GF reinforcements for thermosets are being produced in a new plant in the USA, and short fibres for thermoplastics in Italy.

The group's commitment in plastics reinforcement is to be stepped up particularly in Japan as well as the whole Asian region, which according to Vetrotex accounts for 25% of the global glass fibre market and has annual growth of 6%. The company is aiming to increase its present market share of 10% to 15% by the year 2000, coupled with a 30% increase in sales volume compared with 1991. So far Vetrotex is represented through joint ventures in Korea (50,000 t/y), Thailand (7,000 t/y) and China, where a plant is to be opened in Beijing in the second half of this year (5,000 t/y). The company is planning to benefit from the immense future market potential in Japan (by Vetrotex considered to be the biggest glass fibre market in Asia by far), where it has admittedly no plant of its own as yet, but where it is planning "slow but steady growth" through the development of specific products.

READER SERVICE: A large number of charts (English) on business developments at Vetrotex in 1997, with data on the individual regions, including current GRP world market data: PIE-No. 42486.
15.04.1998 Plasteurope.com [18725]
Published on 15.04.1998

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