Jordan Glass Industries up for sale again

Defunct Jordan Glass Industries, based in Maan, is up for sale once again. An attempt to sell the factory in September 2004 failed to attract any bidders. According to liquidation committee member Moh…

Defunct Jordan Glass Industries, based in Maan, is up for sale once again. An attempt to sell the factory in September 2004 failed to attract any bidders. According to liquidation committee member Mohammad Kour, if the company cannot be sold as a single entity, the sale of individual assets would be considered. Kour indicated that the plant“s assets could be used in other industries, although this is not yet a sale option. The 507,000-square-metre plant has two electricity stations, water tanks, an administration building, a restaurant and a unit for the treatment of sandstone, dolomite and limestone, in addition to several sheds. The plant, a private sector project to make use of Maan“s raw materials, faced problems from the start. As the JOD 2 million capital allocated for the project was not enough for its launch, the government intervened, bringing the capital up to JOD 5 million and becoming a main partner in 1977. Production started late in 1984. The plant imported the best technologies available in accordance with contracts drawn up in 1976. However, because of the technological advances between 1976 and 1984, the project did not enjoy a competitive advantage. The indebtedness of the company increased and work was stopped at the plant more than once for technical reasons. Except for 1988, the factory posted constant losses that reached JOD 22 million at the end of 2002.