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Staff at Swansea's Pilkington Glass have been reassured that their jobs are not at risk. The UK glass king, based in St Helens, Lancashire, is the latest in a string of British companies to be sold to foreign investors.

Nippon Sheet Glass Co. announced Monday it agreed to acquire 80 percent of British glassmaker Pilkington plc in a strategy to expand its global production capacity.

Nippon Sheet Glass Co. said Monday that it will acquire the 80 percent stake it doesn't have of Britain's Pilkington PLC in a deal worth 358.5 billion yen (US$3 billion; euro2.6 billion).

Pilkington's chairman, Sir Nigel Rudd, stands to make £4.25m if, as expected, Japan's Nippon Sheet Glass returns with an agreed £2.2bn takeover offer this month.

Nippon Sheet Glass Co. Ltd., creator of the Selfoc lens and a supplier of gradient index lenses, has partnered with Optical Zonu, a Van Nuys, Calif., manufacturer of fiber interface modules.

Japan's Nippon Sheet Glass is unlikely to agree to buy Pilkington Plc for several more weeks as it continues to plough through the glassmaker's books, sources familiar with the situation said.

Moody's Investors Service has changed the outlook of the Baa2 senior unsecured long-term debt ratings of Nippon Sheet Glass Co., Ltd.'s (NSG)to stable from positive.

Japan's Nippon Sheet Glass doubled its Pilkington stake to around 20 percent, in a move to expand its global reach.Pilkington Chief Executive Paolo Scaroni said he felt NSG would not raise its stake beyond that level.

British glassmaker Pilkington Plc's chief executive Paolo Scaroni said that he did not think Japanese glassmaker Nippon Sheet Glass Co Ltd would raise its stake in the company.

Nippon Sheet Glass, a large Japanese manufacturer, has increased its holding in Pilkington, the UK glass group, from 10 to 21 per cent over the past fortnight, but has ruled out mounting a full bid.