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Nippon Sheet Glass moves for 100% of fibreglass unit

In an attempt to boost its specialty fibreglass operations, Japanese glassmaker Nippon Sheet Glass has said it is going to make Nippon Muki a wholly-owned unit by means of an equities swap in April 20…

In an attempt to boost its specialty fibreglass operations, Japanese glassmaker Nippon Sheet Glass has said it is going to make Nippon Muki a wholly-owned unit by means of an equities swap in April 2001. One Nippon Sheet Glass share will be exchanged for 0.28 Nippon Muki shares. Nippon Sheet Glass purchased a 33.3% stake in Nippon Muki from Hitachi Chemical last December. Nippon Muki is a Tokyo-based manufacturer of fibreglass products such as air filters and battery separators, and is currently listed on the Tokyo Stock Exchange“s second section.

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