Nippon Sheet to Cut Jobs to Pay for Pilkington, Board Considers Revision of Articles of Incorporation

Date: 4 March 2008
Source: Usgnn
Nippon Sheet Glass Co. (NSG) said on Thursday it would aim to cut the number of managers in Japan to help pay down debt taken on for its $4 billion acquisition of British glassmaker Pilkington in 2006 by implementing an "Enhanced Early Retirement Plan." The Board of NSG also decided to begin a formal review of the company's Articles of Incorporation with the intention of converting from a company with a board with statutory auditors into a company with committees.

Nippon Sheet Glass Co. (NSG) said on Thursday it would aim to cut the number of managers in Japan to help pay down debt taken on for its $4 billion acquisition of British glassmaker Pilkington in 2006 by implementing an "Enhanced Early Retirement Plan." The Board of NSG also decided to begin a formal review of the company's Articles of Incorporation with the intention of converting from a company with a board with statutory auditors into a company with committees.

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