Agc Converts Plant

Asahi Glass Co (AGC) recently announced that it will convert its current plant in China, which produces photovoltaic cover glass, into a factory for producing auto glass with a total investment valued at US$ 46M. The demand for automotive glass in China is estimated to grow at a rate of 5% each year, with over 20M/units produced in 2013. The automotive glass plant will be the third of its kind in China, and will have an annual capacity to equip nearly 1.2M/vehicles, increasing AGC's total capacity in China to about 3.6M/vehicles.