Transfer of Equity Interest of Vietnam Float Glass Co., Ltd.
NSG Group announces that it has completed the transfer of all of its equity interest in Vietnam Float Glass Co., Ltd. (hereinafter referred to as "VFG"), a subsidiary manufacturing Architectural Glass in Vietnam, to its joint venture partner.
Established in 1995, VFG was Vietnam's first float glass manufacturing company, and the company has subsequently supplied architectural glass mainly to the Vietnamese domestic market. In recent years however, competition in the commodity architectural glass market in South East Asia has intensified, and therefore the Group has decided to complete this transfer, consistent with its strategy of focusing on the manufacture of high-value-added products. Going forward, VFG will continue its operation under the umbrella of Viglacera Corporation - JSC, a local joint venture partner of the company since its establishment.
NSG Group has set its medium-term plan, "2030 Vision: Shift the Phase", aiming to expand profits in high-value areas that contribute to the sustainable development of society. The decision is part of that strategy. In South East Asia the Group continues to produce glass for solar panels in Vietnam (NSG Vietnam Glass Industry Co., Ltd.) and Malaysia (Malaysian Sheet Glass SDN BHD), and including these products, it will further accelerate the shift to high-value-added businesses.
About VFG:
| Name |
Vietnam Float Glass Co., Ltd. |
| Location |
Que Vo, Bac Ninh Province (suburb of Hanoi), Socialist Republic of Vietnam |
| Establishment |
March, 1995 |
| Paid-in Capital |
USD 45 million (approx. JPY 6.7 billion: at USD/JPY 148) |
| Investment Ratio |
Nippon Sheet Glass Co., Ltd.: Approx. 65%
Viglacera Corporation - JSC (building materials manufacturer and real estate developer in Vietnam): Approx. 35% |
| Number of Employees |
Approx. 320 |
| Production Capacity |
One float glass production line (500 tons/day) |
About NSG Group (Nippon Sheet Glass Co., Ltd., and its group companies)
NSG Group is the world's leading supplier of glass and glazing systems in the business areas of Architectural, Automotive, and Creative Technology.
Architectural manufactures and supplies architectural glass as well as glass for the solar energy and other sectors.
Automotive serves the original equipment (OE) and aftermarket replacement (AGR) glazing markets.
Creative Technology comprises several discrete businesses, including lenses for printers and scanners, specialty glass fibers and glass flakes, mainly glass cord, which is a reinforcing material for timing belts, and Fine Glass products.
https://www.nsg.com
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