Libbey, the US-based glass tableware maker, predicts modest growth in 2005 as it prepares to make an acquisition in Europe and to set up a new factory in China. The company saw sales increase 2.1% to $131.8M for the third quarter, thanks to growth in sales to retain and export channels and to growth of demand for Royal Leerdam products. Sales of glassware to catering clients fells lightly. Including capacity realignment charges of $11.7M, which cover the EU and China ventures, plus its closure of a factory int he US, Libbey made an operating loss of $400,000 in the third quarter of 2004. Margins fell, transport and packaging costs grew, and fuel prices rose slightly. Much higher gas costs pushed its Vitrocrisa joint venture in Mexico into loss. Libbey's income for the fist nine months of 2004 fell, but sales rose 5.8%.
