In 2004 Georg Riedel took over the German glass company „Nachtmann“ with their subsidiary “Spiegelau”. Austrian glassworks Riedel increased its turnover 25% year-on-year to EUR 122M in 2005, despite restructuring & stagnating markets in Europe, CEO G Riedel said 2 March/06. Riedel gave no details of the company's operating profit. Consolidated turnover of the whole Riedel Glass Works group, comprising Riedel Glas, Nachtmann & Spiegelau, generated turnover of EUR 235M in 2005 & total output volume of 50M units in 2005. Austria accounts for 3.0% of turnover & share of exports increased to 97%. Largest growth in turnover was achieved by Riedel subsidiaries in USA & Japan. Turnover in the US jumped 72% to EUR 62M & turnover in Japan, incl. far east & Australia, tripled to EUR 12M from EUR 4.0M, while EU turnover increased 9.0% over the past 5yrs. Riedel has 2 glassworks in Austria. According to company data, Riedel is the fourth largest glassware producer in Europe.
