7 May 1998: Japan“s Iwaki Glass, a subsidiary of Asahi Glass, and Toshiba Glass are expected to merge, effective 1 January 1999. Reports say the new entity will be called Asahi Techno Glass.
Iwaki …
7 May 1998: Japan“s Iwaki Glass, a subsidiary of Asahi Glass, and Toshiba Glass are expected to merge, effective 1 January 1999. Reports say the new entity will be called Asahi Techno Glass. Iwaki Glass will issue about 9 million shares at the time of the merger, and one Toshiba Glass share will be worth 0.48 Iwaki Glass share. The consolidation of common businesses, such as automotive headlight lenses, will augment facilities and bolster development skills. Net sales for the fiscal year ending December 2002 are expected reach 42.5 billion yen, and current profit is predicted at 2.0 billion yen.