A/S VALMIERAS STIKLA SKIEDRA

A/S VALMIERAS STIKLA SKIEDRA

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Company Overview
A/S Valmieras stikla skiedra is a Latvian company engaged in the manufacture and trade of glass fiber and glass fiber products. It is one of the largest companies in the field of chemical and textile industries within the Baltic States (Estonia, Latvia and Lithuania). The company was incorporated in 1996 as a join-stock firm, following the privatization agreement of the Valmiera glass fiber factory and Glasseiden GmbH Oschatz, a German glass producer. Its registered business address is located in Valmiera.
The company’s products are chopped glass fiber strands, yarns, fabrics, and non-woven products such as needled and stitch-bonded mats. The chopped glass fiber strands are used in thermal and technical insulation materials and as ready-made building stuffs. The yarns are used in a variety of applications including the production of technical and electric insulation fabrics, tiles, wallpapers, ropes and brake linings, and for wire insulation. The fabrics are used as insulator for heat and acoustic in automotive, engineering and building, as heat absorber and thermal insulators in buildings, for repair of ceilings, walls and floors, as well as in plastic reinforcement. The non-woven products are applied in industries such as automotive, shipbuilding and power plants.
Valmieras stikla skiedra exports more than 90% of its products to Canada, Malaysia, Australia, Japan, United States, Commonwealth of Independent States (CIS), and the European Union.
Business Summary
The company is producing and processing fibre glass.
Description and history
On October 22, 1996, the owner of the German glass fibre manufacturer Glasseiden GmbH Oschatz, Jurgen Preiss-Daimler, signs the privatisation agreement of the Valmiera glass fibre factory. The strategic investor receives 49% of the company’s shares. On December 7, 1996 the inaugural meeting of the joint stock company Valmieras stikla skiedra takes place.
As a result of the investment, production development accelerates, while the know-how of the German partner helps adjust production to the market and find a stable niche in it. Now working on the elaboration and introduction of QMS ISO 9001 begins. Introduction of the computer programme Concorde XAL is continued, marketing and advertising activities ripen. In September 2001, a modern, one-stage glass fibre production facility is put into operation. In October 2002, German Vitrulan Textilglas GmbH purchases 30,8% of the joint stock company’s shares and becomes the second large shareholder and partner of the JSC Valmieras stikla skiedra.

Incorporated following the privatization agreement of the Valmiera glass fiber factory and Glasseiden GmbH Oschatz, a German glass producer

Business Line
Engaged in the manufacture and trade of glass fiber and glass fiber products
Subsidiary

Advisor
DELOITTE AUDITS LATVIA LTD.
IPO date
2/24/1997
US SIC Code
1793
Company Address
13, Cempu Iela

City province or state postal code
4201, VALMIERA
Phone: +371 4222321
Fax: +371 4225775
Country address: LATVIA
Website url: www.vss.lv