Ceramic Industry

Asahi Glass to Acquire Shares of Hankuk Electric Glass

October 15, 2010

Asahi Glass Co. Ltd. (AGC) has announced the decision to acquire the stock of Hankuk Electric Glass Co. Ltd. by way of a tender offer. This tender offer will be implemented in stock exchange in Korea, in accordance with Korean Financial Investment Services and Capital Markets Act and relevant laws and regulations.

According to AGC, the demand for CRT glass is plummeting; thus, in order to play a leading role in swiftly implementing various management policies, AGC has decided to purchase all of the target company’s shares held by its minority shareholders by means of the tender offer. Upon completion of the tender offer, AGC plans to have the target company delist itself, subject to the approval of authority concerned in South Korea.

For additional details, visit www.agc.co.jp.