Crisal, the Portuguese glass tableware maker, has been the major contributor to a recent 5.4% increase in sales by its new parent group Libbey. Libbey bought Crisal in January, & shortly afterwards closed its own factory in California. Overall group sales at Libbey increased to $129.8M in Q1/05, ($123.1M) but the group as a whole is still losing money. Deliveries of Libbey's World Tableware & Traex products increased, but other channels of distribution saw sales fall as demand fell & some low margin products were withdrawn. There was also the cost of closing the CA plant, higher distribution costs, higher pension costs & lower production activity of Libbey to contend with in Q1/05. Vitrocrisa, Libbey's joint venture tableware manufacturing company in Mexico, is now making a profit. A new tableware plant in China is progressing & should be producing 2007.
