CAPTION: German glass manufacturer Schott will be investing some 300 million euros in the next three to four years. (picture alliance/dpa/archive)
German special glass manufacturer Schott is getting more strongly involved in the smartphone market. After record earnings last year, the Mainz-based company expects to profit in the future from the booming market for folding displays and thin glass screens for smartphones.
In the next three to four years the company will be investing altogether some 300 million euros (342 million dollars), Schott disclosed on Wednesday. Further business growth is also foreseen in pharmaceutical packaging made of glass and synthetics.
In the segment of thin glass for foldable displays the action is above all found in China, Schott chairman Frank Heinricht said. "This is a topic that will be occupying us a great deal more in the years ahead," he commented.
Schott reported a surplus of 207.7 million euros for the 2017-2018 business year that ended September 30, a growth of around six per cent from the previous year. The results came on revenues of 2.08 billion euros, up one per cent, whereby negative exchange rate factors were at play. Adjusted for currency factors, revenues growth was over six per cent. The foreign share of revenues was unchanged at 86 per cent, with the most important markets being Europe, North America and Asia.
For the current business year Schott, with a payroll of around 15,500 employees, is aiming for revenues growth of three to six per cent.
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