2002.08.13, Valmieras stikla šķiedra, RIG

  * JSC  "Valmieras  stikla šķiedra" net sales in the first 7 months of

    2002  amounted  to LVL 10,981.5 thousand, as opposed to LVL 9,170.6

    thousand  in  the  same period of 2001: the increase is LVL 1,810.9

    thousand, or, 19.7%;



  * Net profit in the first 7 months of 2002 was LVL 685.5 thousand, as

    opposed  to  LVL  251.2  thousand  in  the same period in 2001: the

    increase is LVL 407.3 thousand, or, 261.2%.



The enhanced performance is the result of:

  * Launching  the  new  single-phase  glass fibre production unit into

    operation;

  * Company  export  markets  are  prevailingly  in  the Euro area, and

    currently the exchange rate is favourable for export;

  * In 2002 Company is focusing on cutting the costs.