Asahi Glass will build the sheet glass plant in Mexico through its subsidiary there together with a subsidiary of Mexican glass maker Vitro S.A. DE C.V. (E.VTB).
Construction of the new plant, which will be able to make 550 tons of float sheet glass a day, will be completed by the fourth quarter of 2003.
In Russia, Asahi Glass's subsidiary Glaverbel SA (B.GLA) will build a float sheet glass plant with a daily capacity of 600 tons and a mirror plant with a capacity of 5.0 million square meters of mirror a year.
The combined investment for the two Russian plants will total EUR130 million. The two plants will be operational in 2004.
The decision to build new sheet glass plants in Mexico and Russia is aimed at meeting growing demand there.
On the Tokyo Stock Exchange, Asahi Glass shares ended Thursday up 3.0% at Y778. The benchmark Nikkei 225 Stock Average was up 1.3%.
Asahi Glass: To build mirror plant in Russia
Asahi Glass Co. said it will spend a total of Y23 billion to build sheet glass plants in Mexico and Russia. The Mexico plant will cost Asahi $100 million, it said.