Owens Corning to Take over Asahi Fiber Glass' Continuous Glass Fiber Business in 2006

Asahi Fiber Glass, a wholly owned subsidiary of Asahi Glass, announced on December 8 that it has reached a basic agreement with Owens Corning of Ohio on a future business acquisition.

Under the agreement, Owens Corning will buy Asahi Fiber Glass' continuous glass fiber operation including its Ibaraki plant by the first half of Q2 2006. The Ibaraki plant, which was built in 1970 and introduced a direct melt process provided by Owens Corning, has been exclusively manufacturing continuous glass fiber products.

The companies will not disclose financial terms of the agreement. With this move, Owens Corning aims to boost its operations in Japan as well as in the Asia-Pacific region.

600450 Owens Corning to Take over Asahi Fiber Glass' Continuous Glass Fiber Business in 2006 glassonweb.com
Date: 12 December 2005
Source: Japancorp.net

See more news about:

Others also read

Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

Add new comment