The construction glass industry, already facing a dramatic downturn in demand, is being undercut by cheap imports, pinching the profits of some firms and causing others to close down or reduce output, manufacturers say. The Vietnam Glass Association said two construction glass companies, Truong Phong in the southern province of Binh Duong and Cam Pha in the northern city of Hai Phone, had already folded; one of the biggest construction glass manufactures in the country, the Vietnam Float Glass Co, also have temporarily halted operations. The country's float glass inventory is said to be worth US$56.18M. Other big glass companies, including Dap Cau Glass, NSG and Ky Anh Glass, are working at half capacity. The precarious situation is said to have been caused by reduced demand and high oil taxes and energy costs.
