Pilkington window to success for NSG

Nippon Sheet Glass Co. (NSG), the world's sixth-largest glass maker, will move alongside front-runner Asahi Glass Co., in terms of sales, after the 616 billion yen acquisition of third-ranked British glass maker Pilkington PLC, by the end of June.

The acquisition of Pilkington will increase NSG's annual sales to about 760 billion yen, or 14 percent of the world share, rivaling Asahi Glass.

Saint-Gobain of France will drop to third in the world, followed by Guardian Industries Corp. and PPG of the United States, Vitro of Mexico and Central Glass Co. of Japan.

NSG President Katsuji Fujimoto, 62, said his company could pay back the 140 billion yen it had borrowed for the acquisition in several years.

He also said NSG would boost its glass business to turn around the company's electronic information business, such as next-generation flat displays.

With domestic demand for glass products for buildings and automobiles sluggish, the market will inevitably shrink in the future, but worldwide demand, including that in developing countries, will continue to grow, according to Fujimoto.

"NSG's four main production bases are in Japan, Vietnam and Malaysia, but Pilkington has 27 production bases in 16 countries, including those in the United States and China. We've wanted to acquire Pilkington since taking a 20 percent stake in the company in 2001," Fujimoto said.

NSG paid about 616 billion yen, or more than 30 billion yen more than the initially proposed price, for the acquisition, but Fujimoto believes the price was appropriate despite the fact that it was about 30 percent higher than the actual price of the British company's stock.

Read the entire news on the source link below.

600450 Pilkington window to success for NSG glassonweb.com

See more news about:

Others also read

Innovative bird-friendly glass featuring Starphire glass among highlights of renovated Tropical Rainforest
National Aviary’s new bird habitat unveiled after extensive renovation.
WDMA Releases 2018 U.S. Industry Market Study
The Window & Door Manufacturers Association (WDMA) has released the WDMA 2018 U.S. Industry Market Study. This report provides data and insights needed to understand the industry's performance, key trends, and future direction.
Amal Clooney
Clooney will speak at the Opening Plenary on Wednesday, Nov. 14 from 9-10 a.m. at the LEED-certified McCormick Place Convention Center.
Researcher pulling from past to shape future of glass research
Glass has been a part of society for thousands of years, so it is easy for this material to become invisible and overlooked, but a Penn State materials scientist has laid out a plan to map the glass genome and advance the future of glass.
Check out the exhibitors at ASEAN's largest glass show, Glasstech Asia 2018 & Fenestration Asia 2018!
Malaysia International Trade & Exhibition Centre (MITEC); Kuala Lumpur; 14 - 16 November 2018.
CTIEC Signs General Contract of Pakistan  Waste Heat Power Generation Project
On July 9,2018, the signing ceremony of general contract project of installing waste heat generation facilities for two float glass production lines (450t/d+550t/d) of GhaniGlass Co. Ltd. (Pakistan) by CTIEC was held in Shanghai.

From industry

10924 Granite Street, Suite 200
Charlotte, NC 28273
United States

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000
China

NEWS RELATED PRODUCTS

Diamon-Fusion International, Inc.
Diamon-Fusion International, Inc.
Diamon-Fusion International, Inc.
Trex Commercial Products
Diamon-Fusion International, Inc.
Diamon-Fusion International, Inc.

Add new comment