Asahimas' profits fall

Asahimas' profits fall

JAKARTA (JP): PT Asahimas Flat Glass' net profit fell 23.7 percent in the first nine months of this year to Rp 42.9 billion (US$18.20 million) from Rp 53.06 billion for the same period last year.

The company announced Monday that net sales had fallen 12.5 percent to Rp 264.7 billion ($112 million) for the January to September period from Rp 297.7 billion for the same period last year.

The public company makes fabricated, high-quality and specialty glass for exports. It also produces commodity and figured glass for the domestic building and automobile industries.

The company said it expected sales to improve in the fourth quarter of this year.

Asahimas said it had secured new orders to produce automotive safety glass for new car models in Indonesia.

The average price of the company's fabricated glass increased 0.3 percent to Rp 2.063 million ($875) a ton in the third quarter of 1996 from Rp 2.056 million ($872) a ton for the same period of 1995.

High-quality and specialty glass sold 2.7 percent lower, for Rp 979,000 ($415) a ton, this year from last year's average price of Rp 1 million ($424) a ton.

The average price of commodity and figured glass fell 4 percent to Rp 782,000 ($332) a ton in the third quarter from Rp 785,000 ($333) a ton for the same period last year. (02)