at home and overseas
A ground-breaking ceremony was held on 10 November 1995 by American Guardian Ind., for its second float glass plant in Thailand.
The new facility, in Rayong Industrial Land, wil…
at home and overseas A ground-breaking ceremony was held on 10 November 1995 by American Guardian Ind., for its second float glass plant in Thailand. The new facility, in Rayong Industrial Land, will produce clear and coloured glass for the construction, commercial and automotive markets. The investment, estimated at US$ 115 million, was made through Siam Guardian Glass, a joint venture between Guardian Industries and Siam Cement, Thailand“s leading industrial group. According to Mr. Ebeid, president of Guardian Industries“ glass group, the new project will directly create 325 new jobs, and another 1,000 jobs will be created indirectly in related businesses. Construction of Siam Guard II, Guardian“s 17th worldwide float glass plant, will take 18 months, with the initial heat-up of the furnace scheduled for early 1997. The new plant will have a glass melting capacity of about 600 tonnes of float glass per day. Its output will be utilised by local and regional customers in the manufacture of such items as windows, doors, car windscreens, table tops, mirrors, skylights, curtain walls and other quality glass products. Guardian also announced that it is to invest DM 300 million in one of the world“s most modern sheet glass factories at the Wolfen-Thalheim industry park. The future Guardian Flachglas of Thalheim will open in December 1996 and will employ 250 people. Directly and indirectly it will create 850 jobs. Including Thalheim, Guardian will have 17 sheet glass plants around the world. The new plant will have a daily capacity of 550 tonnes. There will also be a coating plant for the production of heat protection glass. Production from Thalheim will be used in construction, furniture and the vehicle industry. Guardian Europe, of Luxembourg, reported in October 1995 that it is conducting negotiations for permission to build a float glass factory in the town of Wuxi in China. Total investment in the plant will be about US$ 120 million, with construction work due to begin in mid 1996. Production should begin at the end of 1997, with capacity planned at 160,000 tonnes a year. Standard & Poor“s (S&P) raised its ratings on Guardian“s senior debt to single- “A“-plus from single- “A“, reflecting the prospect of stronger credit protection measures resulting from the adoption of more conservative financial policies. Additionally, S&P affirms its “A-1“ commercial paper rating on the company. Ratings incorporate a leading position in the large, concentrated worldwide flat glass market and a healthy cyclical upswing in earnings. An extension of the company“s competitive position and solid operating margins through a cycle is supported by low-cost operations, ongoing capacity additions (mostly overseas) and increased focus on value-added fabricated products.