AGC Has Started Considering Transfer of its Business in Russia

Date: 8 February 2023
Source: www.agc.com
AGC Has Started Considering Transfer of its Business in Russia
Photo source
www.agc.com

Date: 8 February 2023

AGC Inc. has begun to consider the transfer of AGC Group's business in Russia.

AGC Group is mainly engaged in the architectural and automotive glass business in Russia. Amidst the uncertain situation in Russia, the Group has suspended investments in the country, including the periodic repair of glass manufacturing furnace, since March last year. Keeping in mind the best interests of employees and customers, AGC Group has been carefully monitoring the situation up until now. AGC has now started considering transfer of their operations in Russia. 

The size of the Group's Russian operations is outlined in the table below. It has been reported that an impairment loss of ¥13.6 billion to the fixed assets of this business has been recorded in the consolidated financial results for the fourth quarter of the fiscal year ending December 31, 2022 (October 1 to December 31, 2022). This financial impact in case of the transfer has been incorporated into the full year consolidated financial forecast for the fiscal year 2023.

Actual results for fiscal 2022

600450 AGC Has Started Considering Transfer of its Business in Russia glassonweb.com

Others also read

Glass Futures is proud to announce a significant breakthrough in the commissioning of its world-first experimental glass furnace.
From 19 September to 17 October, the European Commission gathered stakeholders’ feedback on the next steps of the New European Bauhaus (NEB).
MTH Monolith awarded at Forum Serramenti 2025: a recognition of our concrete vision of quality and innovation.
Vitro Architectural Glass, the largest glass manufacturer in North America, has announced that longtime employee Logan Tautkus-Berry has been appointed to Senior Technical Service Representative/Sustainability.

The National Glass Association (NGA) has announced that Sarah Swango will serve as its Vice President of Development & Exhibit Sales, effective on Oct. 20, 2025.
Emirates Float Glass partners with HORN Glass Industries AG to double production capacity and introduce Ultra Clear Low-Iron Glass.

Add new comment

From industry

Ottergemsesteenweg 707-Zuid
9000 Ghent
Belgium

İçmeler Mah. D-100 Karayolu Cad. No:44A,
34947 Tuzla,/İstanbul
Turkey

52 Corniche El-Nil, AL-SHARIFAIN Tower 10th Floor,
Maadi,
Cairo Governorate
11728
Egypt

NEWS RELATED PRODUCTS

Guardian Glass Europe
Glas Trösch Holding AG
Kuraray Europe GmbH