Maddington glass supplier Modern Glass is resuming its operations after its former owner came out of retirement.
Mr Terriaca, who sold the business in August 2021 to Doug Stewart, has resumed its operations at the start of this month.
He told Business News the factory would operate as a wholesale supplier, dropping its processing arm.
Over its 75 years of operation, Modern Glass has supplied glass to several major projects including Optus Stadium, RAC Arena, Kings Park Bridge, the Bell Tower, the Hyatt and all of Finbar Group’s projects.
Modern Glass supplied Optus Stadium's glass.
Mr Terriaca, who with his brother Robert is training Ian’s son Chaim to take over the business, said it was the most difficult time he had ever faced, but his business was important.
"What's hurt the industry is the prices of freight, everything has gone up. Glass in the last year and a half went up more than 30 per cent, and businesses like us have no control over the freight costs shipping lines want to charge, hence you've got to wear it," he said.
“The cost of a container from China to Fremantle, if you go back two-and-a-half years was $2,800 from and within a year and a half until now it’s gone to $9,000.
“It’s hard [but it’s still doable; you have no choice but to put your prices up.”
He added that workforce retention was extremely challenging during the last two years, as many staff were lured to the mining industry.
“Staff are being offered $40,000 or $50,000 more to work 34 out of 52 weeks of the year, so it was a no brainer [for them]; a lot of staff left,” he said.
The company will run with about nine staff, compared with the estimated 45 staff it had last year and 80 at its peak.
A letter went out to Modern Glass’ customers earlier this year, citing sharply rising costs, supply chain and staff issues as its reason to close its doors.
He bought Modern Glass from Chiam Faigen in 1990 for $1.1 million, after working there for four years.
The company first opened in 1947.
Mr Terriaca is also associated with glass companies in China, Malaysia and Indonesia.