Thai Glass Industry Comes To Terms With Economic Turmoil

In 1963 Thailand's first flat glass factory, Thai Glass Company, was founded by Mr Kiarti Srifuengfung. A year later the company formed a joint-venture with Asahi Glass and changed its name to Thai-Asahi Glass Co. At present, there are four flat glass manufacturers in Thailand. The glass industry there is currently going through a difficult period as the nation is suffering one of the worst economic downturns in 50 years. The economic slowdown has led to a decline in domestic glass consumption. In addition, Thai glass companies have been unable to reap the benefits of the cheaper baht, because of the weakening of neighbouring countries' currencies and the rising costs of imports.