SPECIALIST glass company Romag said it is confident it will emerge from the recession as a stronger business with a raft of new cuttingedge products despite seeing a half-year trading loss of £1.3m.

During the six months up to March 31, 2008, the County Durham company made a £1.1m profit – the equivalent period 12 months later saw Romag plunge into the red.

The firm, based in Consett, attributed its performance to the economic conditions, which it said are the toughest it has experienced in the past 60 years, and has seen it make 70 redundancies.

However, the company stressed it remained confident for the future with an upturn in its key photovoltaic (PV) market expected during next year, and also pledged to look at re-employing people where possible.

Romag, which also saw an 11 per cent dip in revenues in its PowerGlaz division – previously an area which has seen soaraway growth, is developing a range of new products and innovations to help combat the effects of the recession, including its Power- Park, the world’s first device to charge electric cars.

The company revealed it has signed a Memorandum of Understanding with British Gas to distribute, market and install the PowerPark, of which a prototype has only recently been completed, but already has attracted global attention.

Lyn Miles, chief executive of Romag, said she believes the business will emerge from the recession in a stronger position, adding: “Although we are disappointed with the results, we do have to realise that no business is immune to the recession – the most important thing is that you do not carry on as you were and that you change. This is providing an opportunity for the market to correct itself after growing so dramatically, and an opportunity for the stronger players to come to the fore, and I would definitely put Romag in that category.”

Ms Miles said no more redundancies are planned at the factory on the Leadgate Industrial Estate, and the aim of the company is to re-employ people it has been forced to make redundant, adding: “We never know what lies ahead, but we hope we have done as much cost management as we have to. When things start picking up, we would really love to look at bringing these people back who we have had to let go. For me, that is a personal goal.”