Valmiera Fibreglass

AS Valmieras stikla šķiedra and its subsidiaries (collectively known as Valmiera Glass Group) is a Latvian glass fibre manufacturer based in Valmiera. The group's core business areas are glass fibre research, glass fibre product development, production and trade, employing around 1600 people.[4] The main plant in Valmiera began producing fibre during Soviet rule in 1963, which the company states as their founding year.[5] After the restoration of the independence of Latvia in 1991, the factory became a joint stock company.[6] In 1996, partial ownership of the plant was acquired by the German enterprise Jürgen Preiss-Daimler and its glass fiber company P-D Glasseiden GmbH Oschatz.[7]

AS Valmieras stikla šķiedra

Type	Public
Traded as	Nasdaq Baltic: VSS1R
Industry	Glass fibre
Founded	July 18, 1963
Headquarters	Cempu iela 13, Valmiera , Latvia
Number of locations	Sherborne, Dorset, United Kingdom Dublin, GA, United States
Area served	Worldwide
Key people	Stefan Jugel (Chairman of the Board)
Revenue	€ 125,9 million (group, 2017)[1]
Net income	€ 8.2 million (group, 2017)[1]
Owner	P-D Glasseiden GmbH Oschatz (26,07%) P-D Management Industries-Technologies GmbH (23,93%) P-D Aircraft Composites GmbH (18,83%) Corvalis GmbH (11,97%) Beatrix Preiss-Daimler (9,39%) [2]
Number of employees	1,598 (2019) [3]
Parent	Valmiera Glass Group
Subsidiaries	Valmiera Glass UK Ltd. P-D Valmiera Glass USA Corp.
Website	valmiera-glass.com

The company specializes in manufacturing glass fibre and glass fibre products using three different types of glass: E-glass with a temperature resistance of 600+°C, HR-glass with a temperature resistance of 800+°C and SiO2-glass with a temperature resistance of 1000+°C. The glass fibre products are used for further processing for the making of technical (electrical, thermal and acoustic) insulation materials with a temperature resistance up to 1250°C and as finished materials in mechanical engineering, construction, and elsewhere.

The British subsidiary of the company, Valmiera Glass UK Ltd., based in Dorset, produces fiberglass products for the aviation industry, thermal insulation and architecture, while their American subsidiary, P-D Valmiera Glass USA Corp., located in Dublin, Georgia, produces non-woven glass fibre materials or glass fibre mat, which are most commonly used as thermal and acoustic insulation materials in the automotive industry, shipbuilding, power plants, construction, production of household appliances, etc.

All the companies of the Valmiera Glass Group operate in accordance with the Quality Management System Standard ISO 9001. The parent company of the group, AS Valmieras stikla šķiedra, is certified in accordance with the requirements of Energy Management Standard ISO 50001 and Environment Management Standard ISO 14001:2004. Shares of the company are publicly listed at the Nasdaq OMX Baltic.