AGC Invests $470m for Glass Production in Brazil
The plant will produce float glass, mirrors, coated glass and automotive laminated and tempered glass, operating under the name of AGC Vidros do Brasil.
The facility will roll out in phases starting in 2013. By 2016, the company expects to manufacture and market 220,000 tons of construction glass per year as well as automotive glass for 500,000 vehicles per year. It will employ about 500 qualified people.
AGC is forecasting demand in the Brazilian economy, which saw GDP grow 7.5 percent in 2010 and is likely to achieve stable, sustained growth in the years to come. Glass demand will be fuelled by the local construction and automotive markets.
The building sector is stimulated by state investment programs in housing and by upcoming global sporting events. Numerous car makers have announced plans to expand their capacities in Brazil.
AGC intends to capitalize on Brazilâ€™s strong demand by establishing a highly efficient manufacturing base and marketing high-value products harnessing the companyâ€™s advanced technologies and extensive global experience.
AGC has positioned its Second Round of Globalization initiative for business expansion in
fast-growing markets as a key pillar of the companyâ€™s long-term growth strategy, Grow Beyond.
AGC, already operating directly in China, India and Russia, is rapidly expanding activities in these and other fast-growing markets to supply value-added products that contribute to economic development.
The AGC Group aims to achieve sales exceeding 2 trillion yen (about 23 billion USD) by 2020, of which 30 percent is expected to be generated in fast-growing markets.
Will the move benefit the firm?
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