Asahi Glass Co., Ltd. has decided to liquidate its subsidiary Iwaki Glass Malaysia Sdn. Bhd., which formerly made frit for CRT, as demand has fallen rapidly due to the shift to flat panel displays. In…
Asahi Glass Co., Ltd. has decided to liquidate its subsidiary Iwaki Glass Malaysia Sdn. Bhd., which formerly made frit for CRT, as demand has fallen rapidly due to the shift to flat panel displays. In response to this situation, the subsidiary ceased production at the end of June 2007. It continued selling off inventory until the end of January 2008. Located at Pasir Gudang Industrial Estate, Johor, Malaysia, the company is wholly-owned by AGC Techno Glass Co., Ltd. The scheduled date of the shareholder liquidation resolution is 1 July 2008. The liquidation of Iwaki Glass Malaysia will have only a negligible effect on the Asahi Glass“ non-consolidated and consolidated operating results.