To meet the local growing demand for glass, the Company will invest around 135 million euros (about 21 billion yen) to establish the world’s largest furnace (capacity: 1,000 tonnes/day).
This furnace is the fourth one that the Company group will have constructed in Russia. The construction is scheduled to begin from the second quarter of this year, and its volume production will start around the beginning of 2009. AGC Group is currently a leading company in high-quality glass market in Russia.
The subsidiary Glaverbel S.A. (Headquarters: Belgium) acquired Bor Glassworks, a Russian company, in 1997, to conduct business activities. In 2002, Glaverbel S.A. newly established Glaverbel Klin, started its volume production from 2005.
The objectives of this investment are to meet the expanding demand for high-quality float glass and the growing needs for high value-added products such as mirrors and superinsulating Low-E glass, and reaffirm the number one position in the Russian market In addition, the company aims to utilize the current production system, know-how, and trained personnel, speed up the construction of the new furnace, and reduce costs, by building a furnace at Glaverbel Klin, which already has one float glass furnace. Asahi Glass will continue to proactively operate business in fast growing markets where demand for its products is high, while providing higher quality and better services through global benchmarking.