Asahi Glass To Cut CRT Glass Output By 25 pct, Exit China Venture

Forbes.com reported that Asahi Glass Co Ltd said it will reduce the production of cathode-ray tube (CRT) glass by 25 pct to deal with dwindling demand for conventional display devices.

The firm said it will sell its entire 40 pct stake in Chinese CRT glass joint venture Shanghai Asahi Electronic Glass Co to a Chinese partner, SVA Electron Co, by the end of March, for an undisclosed sum. The company said the transaction will result in a loss of 10 bln yen.

Asahi Glass also said it will book special loss of 40 bln yen to write down the impaired value of goodwill for a flat-glass subsidiary in North America.

Read the entire news on the source link below.

600450 Asahi Glass To Cut CRT Glass Output By 25 pct, Exit China Venture glassonweb.com
Date: 22 December 2006
Source: Forbes

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