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

Central Glass CO., LTD. ("Central Glass") hereby announces the update of "Notification of Acquisition of Two Subsidiaries from Guardian Industries Corp. in the United States," which was disclosed on September 16, 2014.

Central Glass also hereby announces that it has resolved to change the acquired companies' names.  

On September 16, Central Glass announced 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"). Central Glass announces that the share transfer of GAPI and GAESA will be executed on November 1, 2014 in Japan Standard Time (November 1, 2014 in US Eastern Standard Time). Central Glass America, Inc., a wholly owned subsidiary of Central Glass, will acquire the share of GAPI.

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. Outline of acquired companies

1) Guardian Automotive Products, Inc.

(1) Name of representative: Michael T. Morrison

(2) Headquarter: Michigan, United States

(3) Establishment: June 1984

(4) Principal business: Manufacture and distribution of fabricated glass for automotive

(5) Paid-in capital: $1,000

2) Guardian Automotive-E S.A.

(1) Name of representative: Michael T. Morrison

(2) Headquarter: Grevenmacher, Luxembourg

(3) Establishment: February 1992

(4) Principal business: Manufacture and distribution of fabricated glass for automotive

(5) Paid-in capital: €16.1 million

2. Purchase price

Total value of shares (GAPI and GAESA): $87 million (approximately)

3. Transaction date

November 1, 2014 in Japan Standard Time

(November 1, 2014 in US Eastern Standard Time)

4. New companies' names

1) Carlex Glass of Indiana, Inc.

2) Carlex Glass Luxembourg S.A.

5. Future prospects

The financial impact of the acquisition to Central Glass’s consolidated accounts is now being investigated. Central Glass will disclose the details of the impact as soon as it becomes available.

600450 Notification of Completion of Acquisition of Two Subsidiaries from Guardian Industries Corp. in the United States glassonweb.com
Date: 3 November 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