Post Time：Apr 27,2011Classify:Company NewsView：555
The AGC Group, a supplier of flat and automotive glass, has invested JPY40bn ($470m) in an industrial glass complex in Sao Paulo, Brazil, in order to expand into construction and automotive glass markets in the region.
The company said that the plant will produce float glass, mirrors, coated glass and automotive laminated and tempered glass, operating under the name of AGC Vidros do Brasil.
The facility will be built in phases starting in 2013 and by 2016, the company expects to manufacture and market 220,000 tonnes of construction glass per year as well as automotive glass for 500,000 vehicles per year.
AGC is forecasting demand in the Brazilian economy, which saw GDP grow 7.5% in 2010 and is likely to achieve stable, sustained growth in the years to come.
AGC is also expecting spurt in demand for automotive glass as numerous car makers have announced plans to expand their capacities in Brazil.
The company intends to capitalize on Brazil's strong demand by establishing an efficient manufacturing base and marketing high-value products harnessing its advanced technologies and extensive global experience.
The AGC Group aims to achieve sales exceeding JPY2 trillion ($23billion) by 2020, of which 30% is expected to be generated in fast-growing markets.
Source: http://www.glassbytes.com/fetch.php?url=http://wwwAuthor: shangyi
