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To clarify the News Report of the Internet and Mass Media 2015-06-12
Regarding the news report of mass media that TGI is planning to close Fujian Factory in China, our clarification is as follows.
Due to the recession of Photovoltaic glass market and the double anit-policy implemented to China by European Countries, the demands of Photovoltaic glass market become weak. TGI considers pausing furnaces instead of closing the factory if the market price of Photovoltaic raw flat glass doesn’t go up until the end of July of 2015 so that the sales price will be lower than cost for long terms. However, TGI will keep producing Photovoltaic glass by stocks or raw flat glass which was purchased from other manufacturers if the furnace is paused. To counter with the present price, there is still 10% profit on processed glass.
If the demand of market is returned later, TGI’s Fujian Factory will restart the furnace to produce Photovoltaic raw flat glass.
Taiwan Glass Ind. Corp.
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