FT: Nippon Sheet Glass raises stake in Pilkington

Nippon Sheet Glass, a large Japanese manufacturer, has increased its holding in Pilkington, the UK glass group, from 10 to 21 per cent over the past fortnight, but has ruled out mounting a full bid.

NSG, a long-standing partner of Pilkington, is understood to have wanted to consolidate its holding to demonstrate that it could supply glass around the world to Japanese carmakers.

There may also be closer co-operation on research and development.

Pilkington would not comment, but its share price fell 5p to 100p, indicating the market did not expect a takeover bid.

The share price fall was partly because of a downgrading of the company by Goldman Sachs, which said Pilkington was vulnerable to worsening consumer confidence.

NSG's original 10 per cent shareholding dated from May 2000. The recent share purchases, which cost NSG about Ł130m ($191m), are thought to have come to an end, for the time being at least.

One of the sellers has been UK Active Value, the activitist investment fund, which disposed of about 5m shares from its 4.8 per cent stake. "We have marginally reduced our holding," said Julian Treger, joint head of UK Active.
......More information available on the source link below

600450 FT: Nippon Sheet Glass raises stake in Pilkington glassonweb.com

See more news about:

Others also read

Technal specified for University Healthcare Building
Working with BAM Construction North East and Glasshus, Technal supplied its MX Visible Grid curtain walling, PY 55 doors and FY 65 windows to the project, specified due to their versatility and aesthetic qualities.
Ben Alcock
Ben Alcock, Business Development Manager at sealant, adhesive and tape specialists illbruck, explains why impregnated tape is the future of window installation.
Epwin Glass unaffected by glass shortage
Recent reports suggest there is a glass shortage in the UK that is threatening to affect the supply of glass IGUs to the industry.
Orangeries without the orangery price | Prefix Systems
At Prefix systems we have a range of systems that can produce a structure that looks like an orangery at a fraction of the cost.
Spectus credentials secure new build contract with EYG Commercial
Long-standing Spectus fabricator, EYG Commercial, have recently completed a new build affordable living rental project with Hull City Council.
Liniar’s Digital Focus Set To Gather Momentum
2018 sees Liniar celebrating 10 years of window innovation – and with the recent revamp of its website, the appointment of a Digital Marketing Manager and the launch of an innovative customer initiative, things are as busy as ever at Liniar HQ.

From industry


Thermoseal Group Ltd.
Thermoseal Group Ltd.
Thermoseal Group Ltd.
Wrightstyle Ltd.

Add new comment