Thai glass firm Siam Guardian Glass has said it is still dependent on working capital support from its US parent, Guardian Industries, three-and-a-half-years on since the south-east Asian economic bub…
Thai glass firm Siam Guardian Glass has said it is still dependent on working capital support from its US parent, Guardian Industries, three-and-a-half-years on since the south-east Asian economic bubble burst. The company also predicted that the local construction market, a major glass consumer, would remain slow for at least another three years. Apiwut Pimolsaengsuriya, sales and marketing manager at Siam Guardian, said the new government should focus on reducing energy costs and protecting the local flat glass industry by introducing a levy on imports of substandard glass. Despite a slight recovery over the last few years, the local glass market is currently less than half the size it was in 1997. Apiwut said that Siam Guardian now depends on export markets to absorb 70% of total production, with its two plants running at 70% of full capacity. Both Siam Guardian and its only domestic rival, Thai Asahi Glass Group, were recently taken over by their respective US and Japanese parents. Reflecting the importance of the Thai operations, Guardian Industries sent its Asia Pacific managing director George Longo to take over as president of Siam Guardian. Apiwut said Siam Guardian has set a target of maintaining its 30% share of the Thai market, which is expected to grow by 5-6% during 2001. In order to maintain its market position, Siam Guardian said it would put more emphasis on the automotive sector, launching new products such as energy-saving glass, while avoiding price competition. The company said it will also attempt to get closer to consumers such as architects and engineers who are responsible for choosing building materials for their projects.