Japan's NSG Selling Stake In LCD Glass Firm-Sources

Date: 3 November 2007
Source: Yahoo

Date: 3 November 2007

Yahoo reported that Japan's Nippon Sheet Glass Co Ltd is auctioning its stake in liquid crystal display glass maker NH Techno Glass Corp to private equity bidders, sources familiar with the matter said.





NSG owns NH Techno Glass jointly with Hoya Corp . It was not immediately clear whether Hoya would sell its stake if there was a high bid, or hold onto it.



Global private equity firm Carlyle Group [CYL.UL] is rumoured to be interested in acquiring the company.



NSG bought British glassmaker Pilkington for around $3 billion in 2006 and may use funds from the sale of NH Techno Glass to pay back some loans.



It had debt of 560 billion yen as of March and a debt/equity ratio of 1.66 percent. NSG's stated aim is to bring this down sharply to 1 percent by 2011.



Privately owned NH Techno Glass group's head office is in the Japanese city of Yokohama. It has affiliates in Singapore, Taiwan and South Korea.



The company fell on hard times after problems on its production line. In September 2006 it took action and started to cut some loss-making products and jobs, resulting in a move back into the black.


600450 Japan's NSG Selling Stake In LCD Glass Firm-Sources glassonweb.com

See more news about:

NSG

Others also read

MORE...

NSG Group to Cease Production at Gladbeck Float Glass Line
NSG Group to Cease Production at Gladbeck Float Glass Line
The NSG Group announces that it has made the decision to cease production at one of its two float glass lines at Gladbeck, Germany, as from January 2025.
NSG Group Plans Pioneering Hydrogen Plant in UK
NSG Group Plans Pioneering Hydrogen Plant in UK
NSG Group is pleased to announce that Pilkington United Kingdom Limited, part of NSG Group, intends to use green hydrogen at its site and scale its production of low carbon glass from 2027, under pioneering new plans with Grenian Hydrogen.
NSG Group: Early closure of a float line in Weiherhammer site
NSG Group Ceases Production on Float Line at German Site
NSG Group announces that the Group has decided to cease the production on a float line at Weiherhammer site, Germany, ahead of the cold repair planned next year.
POLFLAM Launches World’s First Low-Carbon Fire-Resistant Glass
POLFLAM Launches World’s First Low-Carbon Fire-Resistant Glass
A Vision for a Greener Tomorrow
The Rossford plant, Ohio, USA
NSG Group Announes New Solar Glass Production Line in U.S.
NSG Group is pleased to announce the plan to invest in additional TCO (transparent conductive oxide) glass production capacity in the United States to support the growing solar market.
BV Glas appoints Christian Quenett as President
BV Glas appoints Christian Quenett as President
The Annual General Meeting of BV Glas (Bundesverband Glasindustrie) has elected Christian Quenett its President for the next two years.

Add new comment