Asahi Glass Purchases Automotive Safety Glass Business in China

Date: 22 July 2003
Source: Glass Digest Magazine

Date: 22 July 2003

Asahi Glass Co. Ltd. recently announced plans to significantly expand its automotive safety glass business in China through a minority buy-out of its existing joint venture in China - Qinhuangdao Haiyan Safety Glass (QHSG), and the construction of a new state-of-the-art facility in Qinhuangdao Economic & Technological Development Zone (QETD Zone), Hebei Province, China.The economy in China has been growing at a compound annual growth rate of more than 8 percent since 1992, which is likely to be accelerated following its WTO entry in 2002.

The rapid economic growth has led to a booming domestic automotive market, which registered an annual growth rate of 38.5 percent and reached total annual production output of 3.25 million units in 2002. The forecast for 2003 output exceeds 4 million units, which will place the country at the fourth largest automotive production countries in the world after the USA, Japan, and Germany. Continued government investment in highway infrastructures and rising individual household income will continue to be the main drivers behind the growth of passenger car market in China. China's large market size coupled with rapid growth has made it a top priority for all global OEMs, many of whom have announced plans to introduce a variety of new models to the Chinese market in the coming years.
600450 Asahi Glass Purchases Automotive Safety Glass Business in China glassonweb.com

See more news about:

Others also read

MORE...

Southwall Technologies Secures New Bank Loan and Equity Financing Agreement Led by Needham & Company
Southwall Technologies Inc. (Nasdaq:SWTX), a global developer, manufacturer and marketer of thin-film coatings for the electronic display, automotive glass and architectural markets, today announced that on Dec. 18, 2003, it secured an agreement for a new bank loan guarantee and equity financing package of up to $7.5 million from Needham & Company, Inc., its affiliates and Dolphin Asset Management.
Emirates Glass wins major deals
Local quality glass producer Emirates Glass Limited has won contracts to supply 68,000 square metres of its high quality EmiCool glass to five major projects in Dubai.
Micro-Tek Canada, Inc. and Co-Ventures in Glass Containers, Ltd.
Co-Ventures in Glass Containers (CVIGC, Ltd.) of Tampa, Florida, USA and Micro-Tek Canada, Inc. Of Toronto, Canada are excited to announce the beginning of a long term joint venture to combine their extensive experiences and resources to offer the Glass Container Industry globally a best value alternative for all their outsourcing needs in manufacturing, operations and technical assistance agreements, specifically targeted to the smaller manufacturers who have found the larger service companies to be cost and profit prohibitive.The principals of the two companies have found a global need for smaller glass companies who require excellent technical resources to properly compete within the industry without the high costs of employing their own staffs or outsourcing their requirements to the larger service companies whose own operating costs and overhead are substantial.
Autoglass maker dumps dumping charges
China's largest automobile glass maker Fuyao Glass Industry Group Co, Ltd, won its case against the dumping ruling of the US Department of Commerce (DOC).
History of Glass Wine Bottles
When did the wine industry start using glass bottles, and how did they settle on their current size of 750ml? For the answer to these questions, you have to go back in time - back thousands of years to when wine was first cultivated and enjoyed.
Praxair's Specialty Gases Plant Attains New ISO 9000 Standard
Praxair, Inc. (NYSE: PX) today announced that its subsidiary Praxair Canada Inc.'s specialty gases plant in Paris, Ontario, Canada, is one of Praxair's first specialty gases plants in North America to complete the upgrade to ISO 9001:2000, the latest ISO 9000 standard for quality.

Add new comment