Pilkington to cut back in Europe

SLOWING European demand for the products of glassmaker Pilkington has led it to shut its plant in Venice for repair and indefinitely postpone the reopening of another factory under repair in Germany. The moves will lead to a cutback in overcapacity which is hitting Europe, its biggest market for building glass.

However, chief executive Paolo Scaroni is confident he will report improved results for the year ended last month, the fifth year in a row for the group. UK business has been strong and North America, which accounts for 20% of its business, has also rallied.

Aerospace sales have been hit by the setbacks to commercial aviation, although a long-term contract to supply canopies for the Joint Strike Fighter will be the biggest military contract ever awarded to Pilkington.