|AGC and Interpane enter into strategic alliance in the glass business|
AGC Glass Europe and Interpane announced on December 21, 2011 the signing of an agreement under which AGC will acquire 51% of Interpane.
In addition to both being producers of float glass, the two partners have complementary processing activities in terms of geographical scope and product specialties. Through Interpane, AGC gains an industrial presence, mainly in the German flat glass market, and expects to enlarge its range of coated products. “With this alliance AGC aims to strengthen its position in glass coatings and to grow its industrial footprint, offering new glass functions in building, solar & automotive applications,” confirms Jean-François Heris, CEO of AGC Glass Europe. In search of new markets, Interpane for its part will benefit from the extended network and industrial presence of AGC throughout Europe. “Joining AGC ensures the further development of Interpane through access to enlarged know-how and various market segments, which will enhance our value proposition,” comments Jörn Hesselbach, CEO of Interpane.
The closing of the transaction is subject to customary merger control clearance by the relevant competition authorities.
About AGC Glass Europe
Based in Brussels, AGC Glass Europe produces, processes and distributes flat glass for the building industry (external glazing and interior decoration), the automotive sector, the solar segment and various specialised industries. It boasts an R&D Centre and some 100 production units spread between Spain and Russia. It employs about 13,000 people. It is the European branch of AGC Glass, the world’s leading producer of flat glass.
Interpane is a leading family owned glass producer and processor founded in 1971 by Georg F. Hesselbach. Headquartered in Lauenförde (Germany), Interpane sells its glass products to the construction and solar markets. It has also developed its own coating technology and equipment. Its activities in Germany, Austria and France employ about 1,300 people.
AGC Glass Europe – Communications
Tel.: +32 (0)2 674 34 28
+32 (0)499 97 65 47
Jörn Hesselbach, CEO
Tel.: +49 (0)5273 809 205
|December, 22nd, 2011|
|Source: AGC Glass Europe|