Latest News in Auto Glass
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May 27, 2009When Chrysler filed for bankruptcy April 30, restructuring veterans scoffed at the idea that such a big company could move through the process quickly, and industry veterans warned that the U.S. manufacturing base would be deeply disrupted.But today, federal bankruptcy Judge Arthur Gonzalez is scheduled to consider a motion to sell most of Chrysler's assets to a new entity led by Italy's Fiat....
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May 26, 2009Due to a disappointing December half and following a review of unaudited management accounts for the three months to March 31 and forecast results for the June quarter, Flat Glass Industries Ltd. (ASX:FGI) [Australia] has downgraded its expectations of earnings before interest, tax, depreciation and amortization for the year ending June 30.Given a slowdown in sales and normal seasonality...
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May 26, 2009The controling shareholder in China's Xinyi Glass Holdings Co. (0868.HK) is selling up to $111.3 million worth of shares in the company at a discount of 1.3 to 7.6 percent to its last closing price, according to a term sheet, according to a May 26 Reuters report.
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May 21, 2009Float glass production is underway at Guardian Industries’ newest facility in Tatui, Sao Paulo, Brazil. The Tatui plant will produce 800 tons per day and create 300 new jobs, according to a May 21 release.It is the second Guardian plant to serve fast-growing Brazil, building on the success of a plant established a decade ago. That plant in Porto Real, Brazil, has added a state-of-the-art...
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May 21, 2009Asahi Glass, the Japanese-based parent of AGC Flat Glass, plans to merge its flat glass and automotive glass organizations under one umbrella to help boost profitability.Chris Correnti, AGC vice president, general counsel and secretary, said the newly combined organization will be headed by AGC President Brad Kitterman and will be headquartered in Alpharetta, Ga. The automotive glass business was...
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May 20, 2009Nippon Sheet Glass Co., which bought Pilkington Plc in 2006, forecast a wider loss and a sales decline for its current year, and said it will cut 6,700 jobs by the end of March next year.The company expects a net loss of 50 billion yen ($523 million) in the year to March 31, following a 28.4 billion loss for the year just ended, according to a company statement sent to the Tokyo Stock Exchange,...
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May 19, 2009Ethiopia Hansom International Glass PLC for producing sheets of glass is scheduled to be inaugurated tomorrow, two years after its construction started. It is equipped with complete machinery imported from China.Covering an area of 114,607 square meters, the factory, which has already started trial production, has the capacity to produce 42,000 tons of glass a year. It also recycles used and...
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May 19, 2009Japan’s Nikkei 225 Stock Average rose 251.6, or 2.8 percent, to 9,290.29 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.Asahi Glass Co. (5201 JT) climbed 9.4 percent to 674 yen, the highest since Oct. 15. The glassmaker was lifted to “buy” from “neutral” by...
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May 18, 2009Emirates Glass, [Dubai, U.A.E.] in association with LumiGlass Industries and Saudi American Glass Co., has signed a Dhs20m agreement with Emirates Float Glass to buy 20 percent of EFG's total glass production, reported Gulf News. Under the agreement, EGL and its sister companies will collectively purchase 100,000 square meters of glass from EFG every month, according to a May 18 AME...
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May 18, 2009General Motors Corp. told owners of 1,100 U.S. dealerships Friday that it intends to drop them from its retail network, a new indication that the auto maker appears headed for a bankruptcy filing as soon as June 1.Letters to the affected dealers said the company doesn't expect to continue doing business with them beyond October 2010. In a conference call with reporters, General Motors sales chief...
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Viracon, Inc. officials announced that the glass fabricator will make an investment of more than $30 million at its Owatonna, Minn., facility, to install a new coater. The company decided to install the new coating technology in Minnesota because the Owatonna facility is centrally located and has the most extensive product capabilities and technical talent, according to a release....
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Officials of PPG Industries announced several executive appointments, February 21, that are effective immediately.Michael McGarry, PPG executive vice president, has assumed leadership responsibility for the company’s flat glass businesses. He will also lead PPG's architectural coatings businesses in the Americas and Asia Pacific, as well as the Europe, Middle East and Africa (EMEA) region....
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As the prognosis for the design and construction industry continues to improve, the Architecture Billings Index is reflecting its strongest growth since November 2007, according to the American Institute of Architects. The January ABI score was 54.2, up sharply from a mark of 51.2 in December.“We have been pointing in this direction for the last several months, but this is the strongest...
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