AGC Inc. Transfers Ownership of Group Company

Glass manufacturing company AGC Inc. (formerly Asahi Glass Co. Ltd.) reached an agreement with Shanghai Yaohua Pilkington Glass Group Co. Ltd. (SYP Group) to transfer its ownership stake in applied glass material company AGC Flat Glass (Dalian) Inc. Per the agreement, SYP Group takes over the company for a purchase price of ¥5.8 billion (approximately $43.8 million).

AGC Flat Glass (Dalian) Inc. manufactures and sells glass for architectural, automotive, and industrial use.

Remaining AGC Inc. group companies market offerings including molded aspherical glass lenses and optical glass parts; optoelectronics products for components such as optical pickups; synthetic silica glass for semiconductor manufacturing; and optical coatings.

In 2022, AGC Inc. established a dedicated, in-house life sciences company; established a subsidiary company to integrate its Chlor-Alkali business in Thailand and Southeast Asia markets; and transferred all shares of two joint ventures based in the U.S.