Shanghai Yaohua Pilkington Glass Co Ltd said its Board of Directors approved a proposal to invest in a joint venture which will produce automobile glass.
The JV, to be named Shanghai Yaohua Pilkington Automobile Glass Co Ltd, will have registered capital of US$22.5 million and total investment of US$30 million.
No further details were provided.
The board also agreed to invest an additional 100 million yuan (US$12.05 million) in Shanghai Sunshine Coating Glass Co Ltd to become the largest shareholder in the subsidiary.
The listed company develops and manufactures glass and related products.