12 March 1998: Siam Guardian Glass Co. (Siamguard), a Thai-American joint venture, will cut its glass production and increase exports this year to overcome the market slump, managing director Dusit No…
12 March 1998: Siam Guardian Glass Co. (Siamguard), a Thai-American joint venture, will cut its glass production and increase exports this year to overcome the market slump, managing director Dusit Nonthanakorn said recently. The company“s sales had reportedly plunged during the second half of last year because of the fall in the property sector, Nonthanakorn said. Sales last month were down by 30% on those for the same month last year. Siamguard will cut its production by 70% if necessary, the lowest level that would be economic, and if there is still a surplus it will be cleared through increasing exports, Nonthanakorn said. “We will not resort to closing a plant as Thai Asahi Glass Plc has done, because we consider we can tackle the surplus through the plan to cut production and increase exports,” Nonthanakorn added. One third of the company“s output this year is expected to be sold locally and the rest to be exported. Reports say new markets will be found in the US, Europe, Africa and Latin America, in addition to regular sales to Indonesia, the Philippines, Malaysia and South Korea. Siamguard, a joint venture between Siam Cement Plc and Guardian Industries Corp. of the US, has two glass manufacturing plants, each producing 150,000 tons per year; one in Saraburi and the other in Rayong.