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Article: CISA posts profit after 5 years in the red.
- Article from:
- South American Business Information
- Article date:
- November 11, 2003
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Chile, Nov 5, 2003 (El Diario/SABI via COMTEX)
Ceramica Industriales (CISA), the Chilean ceramics company, which is owned by the Briones family, made profits of US$2.18mil in the first nine months of 2003, compared with losses of US$3.5mil in the same period in 2002. It was the first time in five years that the company posts a profit. The completion of a 5-year restructuring program and the recovery of the global economy helped the company to improve its difficult financial situation and return to the black. CISA's problems began in the 1990's, when increasing competition in the US, where it operates through Briggs, and rising labor costs, forced the ...