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