AGC and Interpane enter into strategic alliance in the glass business

AGC Glass Europe and Interpane today announced the companies signed an agreement under which AGC will acquire 51 percent of Interpane, according to a Dec. 21 release.

The companies are both producers of float glass and have complementary processing activities in terms of geographical scope and product specialties, according to the release. Through Interpane, AGC gains an industrial presence, mainly in the German flat glass market, and expects to enlarge its range of coated products. "With this alliance AGC aims to strengthen its position in glass coatings and to grow its industrial footprint, offering new glass functions in building, solar and automotive applications," Jean-Fran?ois Heris, CEO of AGC Glass Europe, said in the release. Interpane is expected to benefit from the extended network and industrial presence of AGC throughout Europe, according to the release. "Joining AGC ensures the further development of Interpane through access to enlarged know-how and various market segments, which will enhance our value proposition," J?rn Hesselbach, CEO of Interpane, said in the release.

The closing of the transaction is subject to customary merger control clearance by the relevant competition authorities.