Asahi Glass to build plant in Brazil

Asahi Glass (AGC) has said it is eyeing Brazil's construction and automotive glass markets. The Japan-based glass substrate supplier announced plans to invest JPY40 billion (US$470 million) to build an industrial glass complex in Sao Paulo, Brazil.

AGC noted that the company is forecasting robust demand in the Brazilian economy. Glass demand will be fueled by the local construction markets thanks to government incentives, the company indicated. In addition, acknowledging that numerous car makers have unveiled plans to expand their capacities in Brazil, AGC holds an optimistic outlook on the potential in the local automotive sector.

The factory site in Brazil will produce float glass, mirrors, coated glass and automotive laminated and tempered glass, AGC said. It will employ about 500.

The facility will roll out in phases starting in 2013. By 2016, the company expects to manufacture and market 220,000 tons of construction glass annually as well as automotive glass for 500,000 vehicles per year.

AGC said it is rapidly expanding activities in China, India, Russia and other fast-growing markets. The company aims to achieve sales of more than JPY2 trillion by 2020, of which 30% is expected to be generated in these fast-growing markets.

600450 Asahi Glass to build plant in Brazil glassonweb.com

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