Notice of Acquisition of Two Subsidiaries from Guardian Industries Corp. in the United States

Central Glass CO., LTD. ("Central Glass") hereby announces that it has resolved to conclude a share transfer agreement to acquire all of the outstanding shares of Guardian Automotive Products, Inc. (Headquartered in Michigan, the United States, "GAPI") and Guardian Automotive-E S.

A. (Headquartered in Grevenmacher, Luxembourg, "GAESA"), as approved at Central Glass’s Board of Directors’ meeting held on September 16, 2014.  GAPI is a subsidiary of Guardian Industries Corp. (headquartered in Michigan, the United States, “GIC”), and GAESA is a subsidiary of Guardian Luxguard II, S.A. (Headquartered in Luxembourg, "GLUXII"), which is also a subsidiary of GIC.GIC is a manufacturer of glass products.

1. Reason of the Acquisition

Central Glass has been expanding its business based on the two core sectors, glass and chemical. Especially in the automotive glass business, Central Glass has deployed its management resources to overseas business along with customers' oversea expansion in recent years.

GIC is a pioneer in manufacture of glass products with over 90 years of history. Through GAPI and GAESA, GIC has been offering value-added products to diversified global OEMs such as in the US and Europe as one of the leaders in automotive glass business.

Completion of this acquisition of GAPI and GAESA will provide Central Glass with the wider production and distribution service networks, advanced solution capabilities, a broad customer base and skillful human resources including management teams of GAPI and GAESA. In addition, this acquisition is envisaged to accelerate the growth of Central Glass' overseas business.

By combining Central Glass's R&D capabilities with GAPI and GAESA's production capabilities and production solution expertise, further improved services with advanced product can be provided to customers.

The core members of GAPI and GAESA's management teams in related business departments are expected to continue to participate in the management of the department after the execution of the acquisition, and also to contribute to the growth of Central Glass Group’s business.

Completion of the acquisition is subject to acceptance of the offer by the board of directors of GIC and the execution of share purchase agreement, and the receipt of relevant regulatory approvals.

Read more: http://www.cgc-jp.com/news/pdf/140916.pdf

600450 Notice of Acquisition of Two Subsidiaries from Guardian Industries Corp. in the United States glassonweb.com
Date: 18 September 2014
Source: www.cgc-jp.com

See more news about:

Others also read

The building received a new transparent skin glass façade made with Guardian Glass.
Plans have been unveiled for twin centres of excellence for glass in the north of England aimed at putting the UK at the forefront of global manufacturing.
JEB fabricated more than 46,000 square feet of glass for the facility.
Digital Tool Evaluates Guardian Glazing Product Performance in Green Rating Systems.
Guardian Glass has expanded its Middle East product line portfolio with a groundbreaking addition, the Guardian SunGuard® SuperNeutral® (SN) series of coated glass products.
Guardian Glass announces it is the first glass manufacturer in Saudi Arabia to be granted the “Quality Mark” by the Saudi Arabian Standards Organization (SASO).

Add new comment