Guardian Europe SA announced in April its signing of a joint venture agreement with Wuxi Xizhou Coalition Development Corporation for the construction of a float glass installation in Xishan, in the p…
Guardian Europe SA announced in April its signing of a joint venture agreement with Wuxi Xizhou Coalition Development Corporation for the construction of a float glass installation in Xishan, in the province of Jiangsu, China. According to a press release by the Luxembourg-based affiliate of Guardian Industries Corp., the joint venture investment will cost approximately US$ 140 million and produce 550 tonnes of clear and coloured glass daily. Guardian currently sells glass manufactured in its Thai plant on the Chinese market, which is second only to the United States for flat glass and related products. The Chinese market has recently seen the introduction of high quality float glass but at present a significant portion of the demand is being met by imports. In 1993, flat glass production in China totalled 5 million and it is estimated that the demand will reach some 7.5 million tonnes by the turn of the century. This increase corresponds with the total production of some 15 float glass factories worldwide and thus the project by Guardian and its Chinese partner will contribute to improving the supply situation for float glass in China. According to Peter S. Walters, group vice-president of Guardian Industries, Guardian“s interest in Asian markets is far from recent. Mr. Walters pointed out that construction is underway on Guardian“s twelfth factory in Thailand, and underlined the considerable efforts of the Chinese authorities at the local and provincial levels – in fact, by the central government – to pave the way for the future construction of the float glass plant, the most modern in China. The new factory, which should be fully operational within 24 months from the start of construction, will contribute to the local and regional economy and directly create 350 new jobs, and another 1,000 indirectly.