Glass Industry News

Notice regarding Transfer of Architectural Glass Business in North America

, AGC Inc.

AGC Inc. (“the Company”) hereby announces that it has decided to sell its North American architectural glass business to Cardinal Glass Industries (Cardinal) and reached an agreement with Cardinal today

The transfer deal is subject to the approval of the related authorities and the earliest closing would be July 2021. (*Read the full document here to see graphs and map: )

1. Reason for Business Transfer

Under the medium-term management policy AGC plus-2023 announced in February this year, AGC has strived for improvements of the profitability and asset efficiency of its architectural glass business which have been designated as one of the AGC Group’s priority issues.

Regarding the operations of the architectural glass business in North America, AGC has concluded that it will create further growth opportunities by transferring it to Cardinal Glass Industries who has business trading experience with AGC in the past and is expected to make the most effective use of AGC’s assets and personnel.

2. Outline of Business Transfer

(1) Architectural Glass Business in North America

AGC began architectural glass business in North America in 1988, as it made capital participation in AFG Industries (now AGC Flat Glass North America). Since then, AGC has supplied various energy-saving and superior design high- performance glass products for over 30 years and contributed to the realization of comfortable and affluent life in the region.

(2) Financial Result of North America Architectural Glass Business to be carve-out (FY2020)

(3) Amounts of carve-out Assets and Liabilities to be transferred from Architectural Glass Business in North America (as of March 31, 2021)

(4) Transfer price and payment method*

Transfer price: 450 million US dollars
Payment method: Payment by electronic funds transfer

3. Outline of the Transferee / Cardinal Glass Industries*

4. Schedule*

(1) (2)

Date of contract execution
Date of business transfer

June 15, 2021
July 2021, subject to the approval of the related authorities at the earliest

5. Summary of accounting procedures

This transaction is expected to generate a profit of approximately 25 billion yen, which is expected to be recorded as other income in the consolidated financial results for the third quarter of the fiscal year ending December 31, 2021.

6. Outlook for the future*

The Company is currently examining the full-year consolidated financial forecast for the fiscal year ending December 31, 2021, including the impact of this matter. The Company will make an announcement as soon as it becomes clear.


(Additional Information)*

The plants subject to the business transfer and their facilities
are: Greenland (TN) with Flat glass manufacturing furnaces (2), Coater (1), 

Spring Hill (Kansas)
Flat glass manufacturing furnace (1)


Abingdon (Virginia) Coater (1)

, © AGC Inc.

Notícias sobre o material do site é copyright e pertence à empresa ou ao seu fornecedor de terceiros notícia, e todos os direitos reservados. Qualquer usuário que acessa esse material poderá fazê-lo apenas para seu próprio uso pessoal, bem como a utilização desse material é de risco exclusivo do Utilizador. A redistribuição ou exploração comercial de material tal notícia é expressamente proibida. Se tal notícia material é fornecido por um terceiro, cada utilizador concorda em observar e estar vinculado aos termos específicos de utilização aplicáveis a material notícia. Nós não representamos nem endossamos a precisão ou confiabilidade de qualquer informação contida em qualquer notícia ou sites externos referidos na notícia.

Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.

Info Grid

Glass studies

Updated worldwide glass study 2021

Updated hollow glass study 2021

Request more information

Updated float glass study 2021

Request more information

Further glass market studies

Request more information

Perfil da Empresa

Updated worldwide glass market study 2021 available now for flat, container glass and tableware

We have updated our international studies on flat glass, container glass and tableware for 2021.

This unique software provides a global overview about glass producers and technical details. Easy to use and clear tables summarize information and data about glass makers such as: Glass types: flat glass, container glass, tableware, production capacities in regions and countries, number of furnaces, furnace types, year of construction, glass types and sub-types, products, project information, special news and downloads.

Further databases supplying demoscopic data and import and export data complete the market survey. Based on these data, prepare individual country profiles with information about local production capacities, local market sizes and expected demand in the future.

Request your offer via

Updated Hollow glass study 2021


Updated Float glass study 2021


Further glass studies and reports 2021