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AGC Inc.

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AGC Inc.
Native name
AGC株式会社
Eijīshī kabushiki gaisha
FormerlyAsahi Glass Company, Ltd.
Company typePublic KK
TYO: 5201
Nikkei 225 Component
Industry
FoundedAmagasaki, Hyōgo, Japan (September 8, 1907; 116 years ago (1907-09-08))
HeadquartersShin-Marunouchi Building, Marunouchi, Chiyoda-ku, Tokyo 100-8405, Japan
Key people
Yoshinori Hirai [jp][1]
(President and CEO)
Products
RevenueDecrease ¥1,282.570 billion (2016)[2]
Increase ¥96.292 billion (2016)[2]
Increase ¥53.362 billion (2016)[2]
Total assetsDecrease ¥1,981.451 billion (2016)[2]
Total equityIncrease ¥1,168.743 billion) (2016)[2]
OwnerMitsubishi Group
Number of employees
6,269 (non-consolidated)
51,500 (consolidated) (as of December 31, 2013)
SubsidiariesAGC Glass Europe
AGC America
AGC Automotive Glass Mexico
AGC Micro Glass
Asahi India Glass Limited
WebsiteOfficial website
Footnotes / references
[3][4]

AGC Inc. (AGC株式会社, AGC kabushiki gaisha), formerly Asahi Glass Co., Ltd.'(旭硝子株式会社), is a Japanese global glass manufacturing company, headquartered in Tokyo. It is the largest glass company in the world and one of the core Mitsubishi companies.

The company is listed on the Tokyo Stock Exchange and is a constituent of the TOPIX[5] and Nikkei 225[6] stock indices.

Asahi Glass was named one of Thomson Reuters Top 100 Global Innovators in 2013.[7]

On July 1, 2018, it was renamed to AGC Inc.[8]

Overview

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Asahi Glass was founded on 8 September 1907 by Toshiya Iwasaki, the second son of the second president of the original Mitsubishi zaibatsu. It was the first Japanese producer of sheet glass. Asahi Glass Co. is one of the largest flat glass producing companies in the world, owning Glaverbel glass plants across Europe and AFG Industries in North America.[9] It purchased AFG Industries in 1992.[10]

Products

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Its main areas of production are:

  • Automotive glass and industrial material
  • Bio-technology and environment
  • Commodity and performance chemicals
  • Display glass (including Dragontrail smartphone displays)
  • Electronic materials and products
  • Flat glass and construction material
  • Optics and telecommunication

Subsidiaries and affiliates

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  • AGC Automotive
  • AGC Biologics
  • AGC Electronics America
  • AGC Chemicals Americas
  • AGC Chemicals Europe
  • Asahi India Glass Limited (known as AIS)
  • Asahi Fiber
  • AGC Techno Glass thailand
  • Ise Chemical Industries
  • Optrex Corp.
  • Asahi Glass Foundation
  • AGC Glass Europe (formerly known as Glaverbel)
  • AGC Asia Pacific Pte Ltd
  • NordGlass Ltd., Poland

Price-fixing scandal in Europe

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AGC Flat Glass Europe was one of the four flat-glass manufacturers involved in the 2007, price fixing scandal uncovered by the EU Competition Commission. The European Commission said that the firms had raised or stabilised prices in 2004, and 2005, through illicit contacts.[11] Neelie Kroes, the EU's competition commissioner, said that the EU would "not tolerate companies cheating consumers and business customers by fixing prices and depriving them of the benefits of the single market".[12]

Asahi India Glass Ltd (AIS)

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Asahi India Glass Ltd. (AIS) was incorporated in the year 1984.[13] The company was formed by a JV agreement between the Labroo family, Asahi Glass Co. Ltd. (AGC), Japan, and Maruti Suzuki India Ltd. It is the largest Automotive glass manufacturing company in India and manufactures a wide spectrum of glass products including automotive safety glass, float glass, and architectural processed glass.[14][15][16] As of 2017, Asahi India Glass Ltd. has 77.1% market share in the passenger car glass segment in India.[17][18]

SBUs & products

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Asahi India Glass Ltd has 3 Strategic Business Units (SBUs) – Automotive Glass, Architectural Glass, and Consumer Glass.[15] Asahi India Glass Ltd also manufactures uPVC, aluminium and wooden profile windows.[19][20]

PT Asahimas Flat Glass Tbk

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(IDX: AMFG) is one of the largest automobile glass makers in Indonesia. In 1970s, Asahi Glass Co. Ltd. went into a joint venture with PT Rodamas, a merchant company turned consumer and industrial product manufacturer. Both established Asahimas Flat Glass in April 1973. It produced simple clear glass using the traditional Fourcault Process. Ownership (2014):[21]

  • Asahi Glass Co., Ltd. (43.86%)
  • PT Rodamas (40.84%)
  • Public (14.96%)
  • Employee's Cooperative (0.36%)

NordGlass (Poland)

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One of the largest Polish manufacturers of windshields for the repair of passenger cars and trucks, working machines, railways, ships, construction and military (armored glass), NordGlass was acquired by AGC in 2015.[22][23][24][25] 2 plants, in Koszalin and in Słupsk, with annual production exceeding one million panes, NordGlass employs over 1000 employees.[26][27] NordGlass has a nationwide network of repair and replacement of car windows.[28] The recipients of the main NordGlass product – windshields for motor vehicles, are the companies dealing with professional car glass replacement are all over Europe, as well as in South America (Brazil) and North Africa. Among them, a prominent position is held by Belron, the Belgian operator of Europe's largest international glass replacement network. NordGlass is one of the main windscreen suppliers for this customer.[29][30]

In 2014, NordGlass manufactured the set of bulletproof windows for Cadillac 355D Fleetwood Special made in 1934, in the USA on the special order for Marshal Józef Piłsudski. The completion of the vehicle glazing constituted the essential part of the thorough vehicle renovation project. The original windows showed traces of bullets, most probably fired in the post-war period by the Communist Security Service officers who were testing the resistance of glass. It is currently possible to see the renovated vehicle in the Royal Baths Park (Polish: Łazienki Królewskie) in Warsaw.[31]

References

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  1. ^ "Message from Top Management". Retrieved 2024-01-11.
  2. ^ a b c d e "AGC financial report 2016" (PDF). AGC Co. Archived (PDF) from the original on 2017-12-03. Retrieved 2021-11-26.
  3. ^ "Corporate Profile". Asahi Glass. Archived from the original on April 7, 2014. Retrieved March 30, 2014.
  4. ^ "Financial Statements". Bloomberg Businessweek. Archived from the original on March 30, 2014. Retrieved March 30, 2014.
  5. ^ "TOPIX Core30 Components" (PDF). Tokyo Stock Exchange, Inc. Archived from the original (PDF) on October 13, 2013. Retrieved March 30, 2014.
  6. ^ "Components:Nikkei Stock Average". Nikkei Inc. Archived from the original on November 14, 2016. Retrieved March 30, 2014.
  7. ^ "Top 100 Global Innovators 2013". Thomson Reuters. Archived from the original on November 1, 2015. Retrieved April 17, 2014.
  8. ^ "AGC REPORT 2018" (PDF). AGC Inc. Archived from the original (PDF) on January 17, 2022. Retrieved August 19, 2020.
  9. ^ "The Flat Glass Company (Asahi Glass): two major investmentsin Mexico and Russia ｜ News ｜ AGC". AGC. Retrieved 2023-02-19.
  10. ^ "R.D. Hubbard". NTRA. 2010. Archived from the original on 2015-06-19. Retrieved 2015-06-19.
  11. ^ "Antitrust: Commission fines flat glass producers € 486.9 million for price fixing cartel". Archived from the original on 2011-05-19. Retrieved 2021-11-26.
  12. ^ Neelie Kroes says that EU will not tolerate companies cheating consumers and business customers by fixing prices
  13. ^ "Asahi Ind Glass share price live today – Why Asahi Ind Glass share price is falling by 6.4% today? Asahi Ind Glass share price analysis | ETMarkets". Archived from the original on 2021-11-05. Retrieved 2021-11-26.
  14. ^ "Asahi India Glass: Reports, Company History, Directors Report, Chairman's Speech, Auditors Report of Asahi India Glass – NDTV". Archived from the original on 2019-09-17. Retrieved 2021-11-26.
  15. ^ a b "Leading the way with 'Green & Sustainable' products: AIS". 3 March 2018. Archived from the original on 25 June 2020. Retrieved 26 November 2021.
  16. ^ "Asahi India Glass Ltd". Business Standard India. Archived from the original on 2021-10-28. Retrieved 2021-11-26.
  17. ^ "Asahi India Glass banks on positive auto market trend – Motorindia". Archived from the original on 2019-09-15. Retrieved 2021-11-26.
  18. ^ "Archived copy" (PDF). Archived (PDF) from the original on 2018-10-22. Retrieved 2021-11-26.{{cite web}}: CS1 maint: archived copy as title (link)
  19. ^ "Pacific Metals Co Ltd (5541.T)". Reuters. Archived from the original on 5 March 2016. Retrieved 15 September 2015.
  20. ^ "Company Overview of Asahi India Glass Limited". Bloomberg. Archived from the original on 2018-10-22. Retrieved 2021-11-26.
  21. ^ "PT Asahimas Flat Glass Tbk Company History". PT Asahimas Flat Glass Tbk. Archived from the original on July 2, 2012. Retrieved July 9, 2014.
  22. ^ "Enterprise Investors sells NordGlass to AGC Automotive Europe". ei.com.pl. 27 April 2015. Archived from the original on 18 March 2016. Retrieved August 20, 2020.
  23. ^ "AGC Automotive Europe confirms acquisition of NordGlass during State visit to Polands". glassonweb.com. Retrieved August 20, 2020.
  24. ^ "AGC acquires NordGlass (Poland), Active in Automotive Replacement Glass". www.automotiveworld.com. 28 April 2015. Retrieved August 20, 2020.
  25. ^ "AGC Automotive Europe Acquires NordGlass". glassbytes.com. 28 April 2015. Archived from the original on 22 December 2015. Retrieved August 20, 2020.
  26. ^ "Miliony szyb, miliony zysku. Szklany sukces NordGlass". forbes.pl. Archived from the original on September 22, 2020. Retrieved August 20, 2020.
  27. ^ "AGC Automotive Europe Acquires NordGlass". glassbytes.com. 28 April 2015. Archived from the original on 22 December 2015. Retrieved August 20, 2020.
  28. ^ "Miliony szyb, miliony zysku. Szklany sukces NordGlass". forbes.pl. Archived from the original on September 22, 2020. Retrieved August 20, 2020.
  29. ^ "Welcome to Belron". belron.com. Belron. Archived from the original on August 14, 2020. Retrieved August 20, 2020.
  30. ^ "Vehicle Windscreen Repair and Replace, Autoglass". autoglass.co.uk. Belron UK Limited. Archived from the original on August 19, 2020. Retrieved August 20, 2020.
  31. ^ "Renowacja Cadillaca Marszałka Piłsudskiego". autoexpert.pl. 17 October 2014. Archived from the original on 8 July 2020. Retrieved August 20, 2020.
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