CHINA: Glass industry profits drop

The combined net profits in China“s glass industry in the 11 months to November 2001 dropped 52% from a year earlier, an official at the State Economic and Trade Commission recently stated.
The coun…

The combined net profits in China“s glass industry in the 11 months to November 2001 dropped 52% from a year earlier, an official at the State Economic and Trade Commission recently stated. The country“s total glass inventory grew by 67% between the end of 2000 and the end of November 2001, while domestic prices of glass dropped by 25% during the same period, the official said. The official added that since the end of 1999, companies in China have begun construction of, or begun production at, a total of 39 new glass production lines, and these new lines have increased the country“s annual glass output capacity by about 70 million crates. In 2000, the country had a total production capacity of 216 million crates of glass per year.