24 June 1999: Australian security glass manufacturer Armourglass Ltd. resolved “to improve its performance in future” and said it had stopped all production at its plant in the United Kingdom.
Compan…
24 June 1999: Australian security glass manufacturer Armourglass Ltd. resolved “to improve its performance in future” and said it had stopped all production at its plant in the United Kingdom. Company secretary Mark Collins said sales volume in the UK had been poor ever since the plant was commissioned, and Armourglass“ plants in Western Australia and Malaysia plant both enjoyed better economies of scale, lower overheads and labour costs, and would be able to serve the European and UK market more cost effectively. The closure had also allowed “the shedding of excess operational staff and a greater concentration of personnel in the area of sales and marketing,” he said. The rationalization comes as Armourglass attempts to turnaround a poor recent performance. In 1997/98, the company recorded a net loss of US$ 4.66 million and followed that up with a US$ 2.11 million net loss in the first half of this year, despite a 63.5% increase in sales to US$ 1.42 million.