AGC has transferred all shares of Al Obeikan AGC for Glass Joint Venture (headquartered in Riyadh, Kingdom of Saudi Arabia) held by AGC through its group company, AGC France Holding SAS, to Obeikan Glass Company (headquartered at Riyadh, Kingdom of Saudi Arabia), its partner and co-shareholder of Al Obeikan AGC for Glass. The transaction was completed on November 25, 2025 following clearance by the Saudi competent authorities.
Under its medium-term management plan, AGC plus-2026, the AGC Group is promoting “ambidextrous management” in its aim to build a business portfolio that is resilient to market fluctuations and has high asset efficiency, growth potential and carbon efficiency. Regarding this joint venture, the Group determined that it would be optimal for Obeikan Glass Company, which operates a float glass business in the Middle East, to take the lead in its management, and thus decided on this transfer.
AGC will remain an active contractual partner of Obeikan Glass Company within the scope of the activities for technical support, licensing and product development of soft coated glazing solutions for architectural applications.