Asahi Glass to Double Exports To $ 43 M

Asahi Glass Philippines, Inc. (AGP), a subsidiary of Asahi Glass Co. Ltd. of Japan, expects exports to double next year to $ 43 million from the projected $ 20 million this year following a strong exports for its solar glass covers.

Renato R. Ermita, who was recently elevated as chairman of AGP board after 47 years of service as president, told this to reporters at the inauguration and commercial operation of its new float glass manufacturing plant complex in Pinagbuhatan, Pasig, which was recently proclaimed by Malacañang as a special economic zone.

Of the projected $ 20 million AGP exports this year, $ 15 million would come from its solar exports and $ 5 million from other AGP glass products.

The company invested a total of $ 35 million of which $ 30 million were invested for the rebuilding and modernization of the float manufacturing plant and $ 5 million for solar glass cover production.

"We can now stand side by with the best glass makers of the world," Ermita stressed.

AGP’s newly appointed president Emmanuel Go said the new investments in the float glass has raised the float glass line capacity by 30 percent to 520 metric tons per day from 400 metric tons.

Its solar glass cover production, the lone solar glass plant in Asia, has a production capacity of 3.4 million square meters and are all geared for the exports market like China, India and other Asian countries, Go said.

Solar glass is a new high-value added export product used in flat plate solar collectors that covert solar energy to electrical energy. It has mostly industrial applications like.

By end of this year, the company would also produce new glass products to include the production of industrial glass for plasma display, automotive raw glass, the so-called showcase like transparent refrigerator doors, water heater panels and other industrial uses.

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600450 Asahi Glass to Double Exports To $ 43 M
Date: 17 August 2006

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