PT Iglas President Director Resigns
Kompas, page 18, 2006-07-20
Daniel Kuswandi has resigned from its position as the President Director of PT Industri Gelas (Iglas) because a number of performance modifying steps through good corporate governance did not receive a positive response from in and out of the company. Meanwhile, the company’s loss has reached Rp.20 billion. Especially considering the fact that glass sales have plummeted 80 percent as a result of the weakening of consumer buying power.

IGLAS Books Rp.217 Billion Turnover
hhttp://members.bumn-ri.c, 2005-10-14
PT Iglas, a company that manufactures glass bottles, has had a satisfactory performance as it had booked Rp.217.9 billion in turnover. However, it might not be able to fulfil its Rp.297.3 billion target by the end of this years due to increasing price of fuel, fluctuating value of US dollar and decreasing consumer buying ability. For its daily operations, PT Iglas purchases Rp 300 million worth of fuel, which is a 100 percent increase compared to last year’s fuel usage. PT Iglas has a production capacity of 465 tons per day, 25 percent of which are exported. Seventy-five percent of its production are distributed to 300 national customers. Iglas holds 35 percent of the market share.