Japan“s Asahi Glass Co. said it has modified its capital relationships with four joint ventures in China for increased efficiency of its glass business in the country.
Asahi Glass has sold its inter…
Japan“s Asahi Glass Co. said it has modified its capital relationships with four joint ventures in China for increased efficiency of its glass business in the country. Asahi Glass has sold its interest in Guangdong Float Glass Co. to a Chinese joint venture partner. But it has increased its equity stake in three other joint ventures to a majority share for about US$ 10 million. The largest Japanese glassmaker plans to integrate float glass production in China at Dalian Float Glass Co., one of the three ventures, to supply products not only in China but also to overseas markets. The two other subsidiaries are Beijing Pennvasia Glass Co., which makes architectural glass, and Qinhuangdao Haiyan Safety Glass Co., which produces automotive glass.