Acquisition of Pilkington by NSG Has Been Completed

Date: 22 June 2006
Source: Pilkington
Pilkington and NSG issued a statement on 16 June confirming that the acquisition of Pilkington by NSG has been completed and that Pilkington is now a member of the NSG Group.

Commenting on the acquisition, Yozo Izuhara, said: “NSG with Pilkington produces a world leader of scale in the global Flat Glass industry. Employing 36,000 people, the enlarged company will have annual sales of around £4 billion, manufacturing operations in 26 countries and sales in over 130, with ownership or interests in 50 float glass manufacturing lines worldwide and a widened Automotive customer base”.Stuart Chambers, said: “I am excited about Pilkington's future as part of the NSG Group. The new combined company is a global leader in glass. Our joint technological strength, innovation and global reach mean we are well placed to grow profitably and to service and develop our customer base in all major markets worldwide”.The former Pilkington plc board, led by Sir Nigel Rudd, has stood down. The new board of Pilkington has three non-executive directors from NSG, including the new chairman, and three executive directors from Pilkington. Pilkington plc will change its name to Pilkington Group Limited. The new non-executive chairman of the Pilkington board is Mr Katsuji Fujimoto, the President of NSG.He is joined, also as non-executive directors, by Mr Tomoaki ‘Tom’ Abe, vice chairman of NSG, and Mr Masakuni Nitta, NSG senior managing officer and head of corporate administration. The executive directors remain Stuart Chambers as Pilkington chief executive, Iain Lough, Finance Director and Pat Zito, President Pilkington Automotive. Stuart Chambers will also join the NSG board as a director of Nippon Sheet Glass Co. Ltd.

600450 Acquisition of Pilkington by NSG Has Been Completed glassonweb.com

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