07-Oct-07 Wearnes Precision (Thailand) Ltd. Closes Down

Ever since Thai Baht starts floating above average, the gap in between Baht and American Dollars keeps getting closer and closer.

This, seriously affects import/export companies.

Of course, company who imports materials and then exports their products were not badly affected as it's a cheaper capital but since they have to sell it in the same price, their profit would be lower, which is a trade off and no impact were sent to them.

However, companies who uses local materials and focuses in exporting were the one who recieves a full 100% damage from the increase of baht price.

In the past 6 months, about 20 Industrial company who exports various of products including a company who exports their product (shoes) for Nike, had closed down due the "strong" baht domino.

Now :

Wearnes Precision (Thailand) Ltd. is a leading manufacturing company located in Chonburi Industrial Estate, Bo-win, Sriracha, Chonburi, Thailand.

Wearnes is a company who produce items from/for these stuff :

Architectural hardware
Coating Machines
Coating Tools
Contractors' Tools
Measuring Equipment
Metal Precision Machining
Metal Products
Metalworking Services
Precision Engineers
Wall Finish

Several days ago, the industry suddently closes down for an unknown reason.

The only thing left was a piece of paper left on the gate announcing that the company had suffered extreme lost and can no longer hire personels and all current personels had been dismissed from service without any dimissal fee.

About 1,000 workers suddently lost their work.
Life stability and no dismissal fee was a big problem to them, thus the mob happens.

There has been news about things like this often, but sadly, our countries' 'Money Manager' denied the fact and said that baht's at it perfect price.

I never understand why people would set up mob just because their boss gone bankcrupt, but recently after the same happened to my brother, I partially had to agree with what the mob did.

(Big mob, this pic was taken in the 2nd day of the mob.)

(Translation :

Industry closed, dismissing all personel's services.
We had transfered personel's salary and dismissal fee to their bank account.)

Which is, completely a lie..

(Wearnes Precision (Thailand) Limited)

(Whenever there's mob, there's propagandas.. for whatever reason.)

(And thus the Mayor and officials came to suppress the mob and encourage everyone to calmly wait for their money in their house.)

It's been 2-3 days, yet there wasnt any confirmations yet, this news, however had not been aired on TV.
Seeing how things went here, unless this news went on air, I think it'll be quite a problem for the personels to try getting their extra money to extend their life.



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