The NSG Group has released its financial results for the second quarter of fiscal-year 2014, with positive results for the architectural glass segment.
The company reports that its architectural revenue for the quarter totaled $1.2 billion (U.S. dollars) (119.5 billion Japanese Yen), compared with $1.1 billion (108.1 billion Japanese Yen) for the same period last year. The company reports profit of $44.7 million (4.4 billion Japanese Yen) for the second quarter, compared with a loss of $26.4 million (2.6 billion Japanese Yen) for the same period last year for the architectural glass segment.
As part of the report, the company also announced that it intends to “mothball” one of the two float lines currently in operation in the United Kingdom. The float line is located at the company’s Cowley Hill plant in St. Helens, United Kingdom.
According to an announcement by the company, the closure of the line is part of its goal of “reduc[ing] float capacity and output to match the requirements of its customers, consistent with its previously announced restructuring program.”
“The proposed action is to right-size capacity to further reduce the group’s fixed costs base and deliver the profitability improvement of the Group’s European architectural business,” writes NSG Group.
The float line will be taken offline this month.
