Ceramic Industry News

AGC Announces Transfer of Equity in Hunan HEG Electronic Glass (posted 7/8/09)

July 8, 2009
/ Print / Reprints /
ShareMore
/ Text Size+
Hankuk Electric Glass Co., Ltd., a subsidiary of Asahi Glass Co., Ltd. (AGC), passed a resolution to transfer its entire equity in Hunan HEG Electronic Glass Co., Ltd., which is its wholly owned subsidiary engaged in the manufacture and sale of CRT glass, to Golden Apple International Investment Co., Ltd.

Hankuk Electric Glass Co., Ltd., a subsidiary of Asahi Glass Co., Ltd. (AGC), passed a resolution at its executive board meeting on July 8, 2009, to transfer its entire equity in Hunan HEG Electronic Glass Co., Ltd., which is its wholly owned subsidiary engaged in the manufacture and sale of CRT glass, to Golden Apple International Investment Co., Ltd.

The equity transfer will be executed as part of Hankuk Electric Glass’ efforts in restructuring its production system following the drop in demand for CRT glass.

AGC expects to post extraordinary losses of about 11 billion yen (about $116 million) accompanying the transfer of equity in Hunan HEG Electronic Glass, along with a write-down of its assets. However, AGC has incorporated the losses into its consolidated earnings projections for the first half and the full year of fiscal 2009, ending December 2009, and there are no revisions to the projections at present.

Visit www.agc.co.jp/english for additional information.

Links

Did you enjoy this article? Click here to subscribe to Ceramic Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

April 2014 Issue Highlights

Our April 2014 issue is now available!

Podcasts

Sapphire: An Extreme Performer

Ian Doggett of Goodfellow and CI Editor Susan Sutton discuss the benefits and opportunities provided by industrial sapphire.

More Podcasts

Ceramic Industry Magazine

CI July 2014

2014 July

Our annual Data Book & Buyers' Guide is your best resource for suppliers of materials and equipment for the ceramic, glass, brick and related industries. Check it out!

Table Of Contents Subscribe

THE CERAMIC INDUSTRY STORE

M:\General Shared\__AEC Store Katie Z\AEC Store\Images\Ceramics Industry\handbook of advanced ceramics.gif
Handbook of Advanced Ceramics Machining

Ceramics, with their unique properties and diverse applications, hold the potential to revolutionize many industries, including automotive and semiconductors.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Directories

CI Data Book July 2012

Ceramic Industry's Directories including Components, Equipment Digest, Services, Data Book & Buyers Guide, Materials Handbook and much more!

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40google+ icon 40px