Japanese Stocks and Nikkei Futures Advance in U.S. Trading

Asahi Glass Co. (5201 JT): Japan's biggest glassmaker said it plans to spend 6 billion yen ($50 million) to build a new factory to help it almost triple output of automobile safety glass in China.

The company also plans to buy the remaining 48 percent stake of a joint company, Qinhuangdao Haiyan Safety Glass Co., it doesn't yet own from partner Qinhuangdao Tempered Glass Factory as part of its expansion in China. Asahi Glass declined to say how much it will pay. The stock rose 11 yen, or 1.5 percent, to 745 yen.

600450 Japanese Stocks and Nikkei Futures Advance in U.S. Trading glassonweb.com
Date: 2 July 2003
Source: Bloomberg.com

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