2004.10.27, Valmieras stikla šķiedra, RIG

Riga Stock Exchange                                             27.10.2004.



JSC “Valmieras stika šķiedra” intend to build new glass fibre production site



On its meeting on October 22, 2004 the Board of Valmiera Glass Fibre JSC 

conceptually approved the budget for 2005 and decided to submit it to the 

Council on November 19, 2004.

Mr W.Queisser, Executive Director of the company's shareholder "Glasseiden 

GmbH Oschatz", informed the Board that there may very likely be the opportunity 

of building a new glass fibre production site in Valmiera. This will be 

possible if the German state government of Saxony rejects to subsidize the 

building of this production site in the German town Oschatz.  Valmiera is in 

need of additional production capacities since the existing are exhausted 

and the satisfaction of its customers' increasing needs can be ensured only 

with the production power of this new site. 

A visit of President Mr A.Brutāns to Kazachstan produced business contacts for 

JSC Valmiera Glass Fibre that might in the future lead to more widespread 

selling in this country.



JSC "Valmieras stikla skiedra" (Valmiera Glass Fibre)

I.Saulītis, 

Financial Director,

Phone +371 42 02 213