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The late 2002 acquisition of Royal Leerdam, a Dutch stemware company, and Traex, a company that manufactures plastics for the food service industry, gave a significant boost to Libbey's sales in 2003, a trend that continued in the first half of this year.
Sales increased more than 18 percent in 2003, partly boosted by the prior year's acquisition of Royal Leerdam, a Dutch glassware company, and Traex, which manufactures plastic items for the food-service industry.
TOLEDO, Ohio-The acquisition of Royal Leerdam and Traex lent a significant boost to Libbey Inc.'s fourth-quarter results.
Libbey, which posted both the highest sales gain, and a healthy 61.4 percent increase in income, attributed its positive results to the sales performance of Royal Leerdam and Traex, both of which were acquired at the end of last year.
Libbey said the increase in sales was due to sales of Royal Leerdam and Traex, which were both acquired last December.
71 In the last few years, John Meier has taken the largest glassware manufacturer in the United States and expanded its offerings even further by acquiring such brands as Crisa and Royal Leerdam, as well as Traex, a supplier of plastic products to the food-service industry.