Nippon Sheet Glass adopts medium-term plan
Officials from Japanese glassmaker Nippon Sheet Glass adopted a medium-term plan to carry the company through the end of fiscal year 2011, according to a Nov. 21 company release.
For the next several years, officials will focus on fully integrating NSG and Pilkington, the United Kingdom-based company NSG acquired for about $3.3 billion in June.
Other objectives for the next for years include:
- Reducing company debt and refinancing
- Improving overall productivity and quality
- Making investments to allow for growth in long term
- Differentiating the company from competitors.
In the building products division specifically, officials say they aim to become more competitive in several growing markets and to produce more value-added products, according to the release.
The company also set financial targets, aiming to hit sales of $7.8 billion in 2011, compared to $2.3 billion in 2006. Officials projected operating income and net income at $474 million and $267 million in 2011. Operating income reached $72 million and net income $67 million in 2006, according to the release.
Preliminary long-term plans include future acquisitions and mergers, and expansion beyond architectural and automotive glass into fiberglass and electronics, according to the release.
To see the full release click here.
In related company news, NSG officials announced plans to build glass production facilities in Kazakhstan and the United Arab Emirates, a $374 million investment, according to a Nov. 22 article from Asia Today.