Asahi Expands

Asahi Glass Company has increased its share holdings in two overseas glassmakers. Its stake in South Korea's Glassmaker Hankuk Electric Glass has been increased to 42.76% from 30% following its purchase of a 12.76% stake held by Nippon Electric Glass of Japan. The move is designed to enhance Asahi's group business in cathode ray tubes for televisions by including Hankuk Electric Glass in its group earnings figures. Meanwhile in China, Asahi is moving to expand significantly its auto glass business. The firm has bought out the minority shareholders in its joint venture Qinhuangdao Haiyan Safety Glass and plans a new factory for the company.