Page 20 - Glass-Technology International no. 4/2017

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FUYAO GLASS INDUSTRY GROUP

SETTING SIGHT ON GERMANY AND RUSSIA

CNY 4.2 billion (USD 608 million) Co. and Kia Motors Co.
abroad in 2017, and Germany, the “We will increase our investments to
US and Russia are our destinations,” USD 1 billion in the US and cre-
After the US, Fuyao Glass Industry according to Cao. ate 5,000 jobs. The company’s fixed
Group is moving and following its Fuyao will invest about CNY 600 investments both at home and abroad
clients with investments in Germany million to 700 million in Heidelberg, will increase by 10 per cent to 20 per
and Russia, while further finances are Germany, to set up an auto glass fac- cent annually, depending on mar-
dedicated to expansion in the US. tory to serve clients such as Daim- ket conditions. Although there are
Chinese glass maker, Fuyao Glass ler AG, Audi AG, Volkswagen AG, some voices going against the tide of
Industry Group Co. Ltd., the world’s Bentley Motors Ltd. and Jaguar Land globalization, we are determined to
largest auto glass manufacturer, will Rover Automotive Plc. The company go abroad based on our own business
step up its overseas investments this is also selecting a new site in the development requirements and cus-
year in Germany, the United States southern part of the US this year to tomers’ needs,” according to Cao.
and Russia, with the total set to reach build a new factory. Fuyao’s annual revenue totalled CNY
USD 200 million. DAYTON AUTO GLASS CENTRE 16.6 billion in 2016, increasing 22.5
“As the largest auto glass producer, per cent year-on-year, and its profit
we shoulder the responsibility to In October 2016, Fuyao completed totalled CNY 3.14 billion, increas-
supply products for most global auto its automotive glass manufacturing ing 20.7 per cent year-on-year. The
manufacturers,” according to Cao centre in Dayton, Ohio. The plant, company’s overseas revenue totalled
Dewang, chairman of Fuyao Glass involving a total investment of USD CNY 5.6 billion last year, up 25 per
Group. 600 million, is expected to produce cent year-on-year.
5 million units of glass annually, China, the world’s largest auto
INVESTMENT STRATEGY
accounting for a 25 per cent market market, saw auto sales reach a record
“Our investment strategy is to follow share in the US. The facility in Day- high of 28 million vehicles last year,
our customers and meet their re- ton will supply customers including up 13.7 per cent year-on-year, ac-
quirements. We will spend one-third General Motors Co., Chrysler LLC, cording to the China’s Association of
of our annual investment budget of Hyundai Motor Co., Honda Motor Automobile Manufacturers.

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