15 April 2009 11:17 [Source: ICIS news]
TOKYO (ICIS news)--Japan’s Asahi Glass (AGC) will cease production of automotive glass at its plant in Kitakyushu by the end of 2009 due to a decline in demand, a company official said on Wednesday.
This would reduce AGC’s total domestic automotive glass capacity from 7m car units to just below 6m, according to the official.
“We have manufacturing bases of automotive glass throughout the world, but ceasing production at one of our three bases in ?xml:namespace>
Due to significant decreases in automotive glass demand in
In December 2008 AGC had reduced operations at glass factories around the world to 70%.
AGC expected to incur yen (Y) 5bn ($50m) in extraordinary losses in the fiscal year ending December 2009 as a result of the
However, the producer did not plan to revise its forecast because consolidated earnings projections for the current fiscal year, announced on 6 February, had factored in extraordinary losses of Y60bn, it added.
($1 = Y98.81)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections