Asahi Glass Announces Demerger and Transfer of Shares of Asahi Fiber Glass Co., Ltd.

Asahi Glass Co., Ltd. decided at its Board of Directors’ meeting held on September 12, 2007 to divest the glass wool and industrial materials operations from Asahi Glass Fiber Co., Ltd. and transfer the entire shares of a newly established company in the manner and on the basis described below:1.

Reasons for Demerger and Share Transfer

Asahi Glass, under its group vision, “Look Beyond”, is committed to concentrating its management resources in its core business fields, and is continuously reviewing the possibilities of revising its business portfolio and reallocating its management resources in the process of carrying out its three-year medium-term management plan, “JIKKO-2007”, which it implemented in 2005.

Asahi Fiber Glass Co., Ltd. (hereinafter referred to as “Current AFGC”) currently manufactures and sells glass wool for use as residential heat-insulating material, and fiberglass reinforced thermoplastics for use as industrial materials mainly in Japan. However, based on the judgment that these operations would generate little synergy in the future with the business fields in which its group would actively mobilize its resources, Asahi Glass has decided to transfer Current AFGC’s glass wool and fiberglass reinforced thermoplastics operations in keeping with its management policy to concentrate its management resources in the core businesses.

More specifically, Asahi Glass will first divest the glass wool and industrial materials operations as Current AFGC’s main businesses from Current AFGC, and then transfer the entire shares of a newly established company (carrying the corporate name of Asahi Fiber Glass Co., Ltd.; hereinafter referred to as “New AFGC”) to Current AFGC. Asahi Glass will continue to hold the entire shares of the demerged company that is slated to continue holding non-operating assets (including land and buildings) related to operations other than its main businesses (whose - 1 - corporate name would be changed from the tentative “Asahi Fiber Glass Co., Ltd.” to “AGC Estate Co., Ltd.”).


Read the full story

600450 Asahi Glass Announces Demerger and Transfer of Shares of Asahi Fiber Glass Co., Ltd.

See more news about:

Others also read

Asahi India Glass Ltd. (AIS), India’s leading integrated glass company, has come up with an exclusive glass solution called the AIS World of Glass- an app that lets users channel their imagination and visualize glass customizations for their home and office.
High-security Smartphone Feature Stylish Designs - AGC (Asahi Glass Co., Ltd.; Head Office: Tokyo; President & CEO: Takuya Shimamura) released a new cover glass for an in-glass fingerprint recognition sensor installed on a smartphone to improve security.
Asahi Glass' group operating profit for the nine months through Sept. 30 likely rose 22% on the year to around 52 billion yen ($429 million), marking the company's first profit growth for January-September in five years.
“We’ll continue to produce, with simple honesty, what can meet the needs of the times,” Asahi Glass Co.
In light of recent performance trends, Asahi Glass Co., Ltd. (“the Company”) has revised its consolidated financial forecasts for the first half and full year for fiscal year ending December 31, 2015, which were announced on February 6, 2015.   Read more here.
New infoverre product expands the possibilities of the “glass with display monitor” product line ― Asahi Glass Company (AGC), a world-leading manufacturer of glass, chemicals and high-tech materials has released a new infoverre™ product “infoverre™ MIRROR” as an interior product for residential and commercial facilities.  This new product will bring solutions to unique design needs in the world.The infoverre™ series is a new-generation glass signage that provides clear and vivid images to viewers (see next page for details).

Add new comment