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The eBearing News
June 15, 2004
Glacier Bearings Slovakia Reports Fiscal 2003 Loss
copyright © 2004 eBearing Inc.
Glacier Tribometal Slovakia (GTS, Slovakia, a division of Dana Corporation, USA)
reported sales and earnings for the just-ended fiscal year 2003.
GTS is located in what is now a shared manufacturing facility in Dolny Kubin. EnPro
Industries acquired the other plain bearing manufacturing operations in Dolny Kubin and will
be relocating them to a facility now under construction near Martin.
• article: GGB building new facility in Slovakia
GTS sales for 2003 were Sk 310.4 million (USD $9.4 million), up just 1% over the Sk 307.6 million ($9.3 million)
recorded in 2002.
However, that increase was not enough to stave off sharply wider losses, hitting Sk 7.1 million ($214,300)
in 2003, up from the loss of Sk 5.4 million ($163,000) in 2002.
Part of the company's difficulties in Slovakia can be traced to foreign exchange, with the relative
strength of the Slovak koruny to the dollar having a strong impact on earnings. Our sources in Slovakia
tell us the antiquated Dolny Kubin plant is part of the problem, an inefficient cold war era facility
which has manufactured plain bearings under several owners since 1952.
Looking forward to the remainder of fiscal 2004, Glacier Slovakia projects an optimistic sales target
of Sk 442 million ($13.3 million), teamed with an even more optimistic profit forecast
of Sk 35 million ($1.1 million).
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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