With an investment of approximately 60 million USD, AGC will establish a new company and build manufacturing facility for laminated automotive glass, which is scheduled to start operations at the beginning of 2016.
Mexico’s automobile production, light vehicles in particular, is growing in the North American automobile industry. In 2012, the country’s automobile production marked a record high of three million units. Steady growth is expected to continue, and the production volume is forecast to reach four million units by the late 2010s.
AGC’s new subsidiary in Mexico will be served as its third manufacturing base in North America after the Bellefontaine and Elizabethtown plants run by AGC Automotive Americas Co. At present, AGC ships out products manufactured at the US plants to meet the automotive glass demand in Mexico. Going forward, AGC will have a more improved production system in the region to flexibly respond to the market growth in an effort to further expand its automobile glass business in North America.
1. Company name: AGC Automotive Mexico S.A. de C.V. (tentative name)
2. Location: San Luis Potosí, Mexico
3. Capital: AGC Group 100%
4. Business: Production and sales of automotive glass
5. Production capacity : Laminated glass for approx. 750,000 vehicles/year
* As of 2016, and will be expanded in the future
Under the management policy, Grow Beyond, AGC has set the “Second Round of Globalization” as one of its growth strategies, and is devoted to business expansion in emerging markets. By capturing growing demand in fast-growing countries, AGC will make a turnaround in its business and build a solid base for further growth.
About the AGC Group
The AGC Group, with Tokyo-based Asahi Glass Co., Ltd. at its core, is a world-leading supplier of flat, automotive and display glass, chemicals and other high-tech materials and components. Drawing on more than a century of technical innovation, the AGC Group has developed world-class expertise in fields including glass, fluorine chemistry and ceramics technologies. The group employs some 50,000 people worldwide and generates annual sales of approximately 12 billion USD through business in about 30 countries. For more information, please visit www.agc-group.com/en.
Toshihiro Ueda, General Manager, Corporate Communications & Investor Relations
AGC Asahi Glass Co., Ltd.
(Contact: Tsuyoshi Odahara; Tel: +81-3-3218-5603; E-mail: email@example.com)