Thai Asahi Glass Plc is facing its toughest year since it was founded 35 years ago, according to a recent report. The company has suspended production at its new Bt 3bn plant in Rayong after recording its first ever loss in 1997. After years of profit, the Thai-Japanese joint venture company is reducing its costs in response to the nation's worst economic downturn since the 1940s. MD of Thai Asahi Glass said that domestic glass consumption this year was expected to slump by 35% to around 4m cases, because of the decline in the construction & automotive sectors. He added that excess of glass in the region & the currency turmoil made it difficult to increase exports to compensate for the sagging domestic demand. "We weighed the pros and cons & decided to opt to temporarily close the new plant as this was the best way to deal with cash-flow problems."
