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LM Glasfiber Industrial Division becomes Covia

19 September 2003

LM Glasfiber Industrial Division has changed its name to Covia to strengthen the focus on composite technology for the train manufacturers.

In the name Covia 'Co' stands for composite and cooperation and 'via' stands for transportation and a clear path into the future.

""By spinning off our train activities in Covia, we can sharpen our profile in a growth market and target the railway industry and the railway companies, thus increasing our focus on business development"", says LM Glasfiber CEO Anders D. Christensen. Today Covia A/S commands a share of approximately 30% of the existing market. The company aims to increase this share and to grow over the next few years from about DKK 60 million in 2002.

The rail market is expected to see further growth in the years ahead. This trend follows not least from the demographic concentration in all major cities, which, coupled with growing environmental awareness, brings infrastructure in the large urban areas and between closely populated regions into focus.






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