AGC Asahi Glass (AGC) announces that AGC Automotive Europe, a member of the AGC Group, has reached a basic agreement with Induver Holding (Head Office: Morocco; Representative: Hakim Abdelmoumen), a glass manufacturer in Morocco, to set up a joint venture for manufacturing automotive glass.
Establishment of the production base marks the AGC Group’s first operations in North Africa. This latest deal is subject to approval by the relevant local authorities.
Morocco has been enjoying the highest economic growth in North Africa, reflecting its position in recent years as a production base for Europe. Automakers in Europe have already decided or plan to set up operations in the country.
Automobile production in Europe exceeds 20 million units annually, and is forecast to continue growing at approximately two percent a year.
Considering these factors, the AGC Group has decided to establish an automotive glass manufacturing company through a joint venture with Induver in Kenitra Province in the northern coastal area of Morocco. The new joint venture is expected to start commercial production in 2019 and provide customers in Europe and North Africa with high value-added products and services such as laminated glass and tempered glass (production capacity: approximately 1.10 million vehicles/year).
The AGC Group has been working to expand its operations for the automotive glass business by positioning it as a growth business. Through expansion into North Africa, we will capture demand for automotive glass in Europe and North Africa with the aim of further increasing our corporate value under the management policy .
Founded in 1947, Induver is a family-owned company located in Casablanca, a leader in glass processing in Morocco.
Induver is moreover specialized in production of automotive glazing for the aftermarket, of windows for paraautomotive
markets (cabs for tractors and earth movers, vehicles without licence,…)and window glazing for architectural markets. For more information please visit www.induver.net.
AGC Automotive Europe
Based in Louvain-la-Neuve (Belgium), AGC Automotive Europe is a subsidiary of AGC Glass Europe, which in turn is the European branch of AGC Group. AGC Automotive Europe specializes in production of windows (OEM and replacement) for vehicle manufactures. It also provides ready-to-assemble systems (fixation devices) , higher value added functional systems ( antennas, sensors, heating elements) and enhanced property glazing ( improved thermal, sound and vision comfort). For more information please visit www.agc-automotive.com (automotive glass) or www.agc-glass.eu.
About the AGC Group
AGC Asahi Glass (or also called AGC, Registered Company name: Asahi Glass Co., Ltd., Headquarters: Tokyo, President & CEO: Takuya Shimamura) is the parent company of the AGC Group, a world-leading glass solution provider and supplier of flat, automotive and display glass, chemicals, ceramics and other high-tech materials and components. Based on more than a century of technical innovation, the AGC Group has developed a wide range of cutting-edge products. The AGC Group employs some 50,000 people worldwide and generates annual sales of approximately 1.3 trillion Japanese yen through business in about 30 countries. For more information, please visit www.agc-group.com.