AGC (Asahi Glass Co., Ltd.; Head Office: Tokyo; President & CEO: Takuya Shimamura) announced today that, in order to consolidate its ARG activity (automotive replacement glass) in Europe, AGC is acquiring the NordGlass company (Poland) from Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Enterprise Investors through AGC Automotive Europe.
NordGlass specialises in producing windshields for the automotive industry and is a major player in the European aftermarket, with sales of around 1.3 million windshields in 2014. The company employs more than 1,100 people in Europe.
This acquisition is complementary in geographical terms to AGC’s existing network of facilities and so will enable it to reinforce its position in Europe.
The acquisition remains subject to approval from the European competition authorities.
The AGC Group strives to further strengthen its market position in the automotive glass business, which is one of the target growth areas for the Group, with the aim of increasing the Group’s corporate value under the new management policy AGC plus.