Shanghai Yaohua Pilkington to set up jv with Pilkington Italia

Shanghai Yaohua Pilkington Glass Co Ltd will set up a 50-50 joint venture with Pilkington Italia SpA, Shanghai Yaohua said.

According to a statement it filed with the Shanghai Stock Exchange, the firm will sell 25 pct of its plant in Changshu city for 2.46 mln usd to Pilkington Italia.

Glasslink, its wholly-owned unit incorporated in Hong Kong, will also sell a 25 pct stake in the plant, for 1.81 mln usd to Pilkington Italia, a subsidiary under Pilkington Plc.

The two firms will then hold 50 pct each of the Changshu glassmaking plant which will be the new joint venture.

Shanghai Yaohua's board of directors has approved the deal but it is still subject to government approval, it said.

The new venture, will have a registered capital of 48.33 mln usd, Shanghai Yaohua said.

The venture will borrow the rest of the total planned investment of 96.68 mln usd.

Pilkington International Holdings BV, another unit under Pilkington Plc -- one of the world's largest manufacturers of glass and glazing products -- held an 18.98 pct stake in Shanghai Yaohua at the end of 2004.

600450 Shanghai Yaohua Pilkington to set up jv with Pilkington Italia glassonweb.com

See more news about:

Others also read

Prism Architectural: 7-8 St Martins Place, London
Prism Architectural are pleased to continue their working relationship with Willmott Dixon Interiors on 7-8 St Martins Place, London.
Selly Oak Retail Park Next for Bennetts
Aluminium glazing specialists Bennett Architectural have been chosen to work on the NEXT store at at the brand new Selly Oak Retail Park.
Kings College, Wimbledon
Prism Architectural are pleased to announce the appointment by Knight Harwood to deliver the external glazing to Kings College, Wimbledon.
Allegion Acquires Advanced Fire-Rated Glass Products Manufacturer TGP
Allegion, plc, a leading global security products and solutions provider, has acquired Technical Glass Products (TGP) through one of its subsidiaries.
Custom Folding Glass Wall for High-End Restaurant
When designing a three-story restaurant overlooking the Chicago River, a client approached Solar Innovations® for a custom Folding Glass Wall.
Pilkington Spectrum
Pilkington Spectrum, one of the industry’s most popular glass specifying tool, is now available to use on-the-go following the launch of a new smartphone app.

Add new comment