SH Yaohua Pilkington to invest in auto glass

Shanghai Yaohua Pilkington Glass Co Ltd said its Board of Directors approved a proposal to invest in a joint venture which will produce automobile glass.

The JV, to be named Shanghai Yaohua Pilkington Automobile Glass Co Ltd, will have registered capital of US$22.5 million and total investment of US$30 million.

No further details were provided.

The board also agreed to invest an additional 100 million yuan (US$12.05 million) in Shanghai Sunshine Coating Glass Co Ltd to become the largest shareholder in the subsidiary.

The listed company develops and manufactures glass and related products.

600450 SH Yaohua Pilkington to invest in auto glass

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