Asahi Glass Sees Net Profit Doubling In 2007

Date: 7 February 2007
Source: Reuters

Date: 7 February 2007

Reuters reported that Asahi Glass Co. Ltd. (5201.T: Quote, NEWS , Research), Japan's largest glass maker, said on Monday it expected its net profit to double in 2007 due to strong demand for glass used in flat panel displays and an end to losses on glass for tube TVs.





The company, which competes with Corning Inc. (GLW.N: Quote, Profile , Research) and Nippon Sheet Glass Co. (5202.T: Quote, NEWS , Research), also announced plans to shut a sheet glass factory in New Jersey due to a slowing United States housing market and rising costs for fuel such as natural gas.



Group net profit at Asahi Glass slid 25 percent to 45 billion yen ($373 million) in 2006 due mainly to a 46 billion yen special loss to dissolve overseas subsidiaries and other restructuring steps in its loss-making cathode-ray tube (CRT) business.



Asahi Glass President Masahiro Kadomatsu told a news conference that he would not hesitate to pull out of the CRT glass business if it continues to lose money, though he is aiming for a recovery this year.



Read the entire news on the source link below.
600450 Asahi Glass Sees Net Profit Doubling In 2007 glassonweb.com

See more news about:

Others also read

MORE...

Call for papers - Glassman Asia in Bangkok
Call for papers - Glassman Asia in Bangkok
The organiser has issued a Call for Papers for the event, which takes place on February 12 and 13 at the Bangkok International Trade & Exhibition Centre (BITEC).
Showcase your Innovation at GAFA2024
Showcase your Innovation at GAFA2024
Glasstech Asia and Fenestration Asia 2023: A resounding success marks the revival of industry connections
What's New at GAFA2024
What's New at GAFA2024
Find out and lock-in early bird rates!
GlassTech and Fenestration Asia 2023 Wrap Up
GlassTech and Fenestration Asia 2023 Wrap Up
Embarking on a journey of innovation and design at GlassTech & Fenestration Asia 2023 within the esteemed BAU Network!
Forel at Glasstech Asia 2023
Forel at Glasstech Asia 2023
The 2023 edition of Glasstech Asia was a resounding success, hosting over 200 companies and renowned brands in the glass industry.
Day 2 Recap at GlassTech and Fenestration Asia 2023
Day 2 Recap at GlassTech and Fenestration Asia 2023
An exciting day two at GlassTech and Fenestration Asia 2023! Day two was filled with thought provoking panel discussions, insightful speeches on climate change and sustainability.

Add new comment