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Japan's largest glass maker, Asahi Glass Co. Ltd, announced Friday it will launch a $415 million public tender next week for the 35 percent of Belgian glass maker Glaverbel SA it doesn't already own.
Glaverbel SA shares closed slightly firmer in heavy trade, amidst speculation that funds are trying to block Asahi Glass Co Ltd's buyout bid, brokers said.
Shareholders holding about 12% of Belgian glassmaker Glaverbel have banded together to oppose a takeover bid from Asahi Glass for the 35% of Glaverbel not owned by Japan's largest glass company.
Tamglass new technology concept ProConvection, which was launched at Vitrum, has attracted wide interest. The company has already received several orders for the new flat tempering furnace, designed especially for tempering coated glass.
The glazing industry of the 21st century uses these days increasingly float glass integrated with special coating materials.
Over the last three trading days, the Glaverbel share price has increased to over 145 euro per share, with abnormally high trading volumes.
The Board of Directors of Glaverbel S.A. met on Tuesday 8 January 2002 to formulate the opinion that it must give to the Banking and Finance Commission, concerning the public tender offer announced on 19 December by Asahi Glass for the Glaverbel S.
Asahi Glass Co Ltd president Shinya Ishizu said he expects a "huge" increase in profitability from the reorganisation of its worldwide glass operations including the planned buyout of its Glaverbel SA unit.
Tamglass Group has agreed new automotive glass machinery orders for over 9 million euros. The agreements have been signed during October and November.
Consolidated sales for Groupe Lapeyre amounted to Ï1,084.1 million at September 30, 2001, an increase of 15.3% compared with the first nine months of 2000.
The Brazilian safety glass machine market is experiencing a very favorable development. The order book of the last year established new Tamglass plant in Brazil has grown rapidly during the ongoing year.
The various Tamglass organizations, including Tamglass Safety Glass Ltd, have prepared an environmental protection system.
The glazing industry of the 21st century uses these days increasingly float glass integrated with special coating materials.