AGC will change the name of its production subsidiary in Suzhou, China in early in March, 2016. The subsidiary had previously been producing automotive raw glass and photovoltaic cover glass. In 2014, it newly built automotive glass fabrication facilities while stopping the production of photovoltaic cover glass. Further, AGC established an integrated production system for automotive glass at the subsidiary in 2015.
The new company name clearly shows that it is the Group’s automotive glass production base, and AGC will aim to accelerate the integration of operations with the other two automotive glass production bases in the country: AGC Automotive Foshan Co., Ltd. and the Qinhuangdao Plant of AGC Automotive China Co., Ltd.
Change in the company name
New company name AGC Automotive (Suzhou) Co., Ltd.
Former company name AGC Flat Glass (Suzhou) Co., Ltd.
Automobile production in China is expected to reach 26 million units in 2016, and is forecast to continue growing at high rates. Accordingly, the demand for automotive glass is expected to increase in the future. AGC has been strengthening and enhancing the automotive glass business since it gained a stake in an automotive glass company in Qinhuangdao, Hebei Province in 1995. In 2006, AGC established a new company in Foshan, Guangdong Province. In order to meet future increase in demand, AGC has expanded its production capacity further in 2014 and established an integrated production systemin the following year.
The AGC Group will strive to improve asset efficiency in the automotive glass business and steadily capture the growing demand in China, aiming to achieve an increase in corporate value as set forth in its management policy,