Volume 36, Issue 10, October 2001
Nippon Sheet Glass Purchases Twenty Percent of Pilkington plc
The Nippon Sheet Glass Co. Ltd. (NSG) has purchased 130 million shares in Pilkington plc, bringing its total shareholdings from 10 percent to 20.6 percent of the company’s issued share per capital.
Pilkington said rumors that NSG, a competitor, was planning to take over the company were not true. A spokesperson for NSG agreed it had no plans to take over Pilkington and said, “the association with its rival would enable it to enter the international automotive glass market.”
“Pilkington has had a long and co-operative relationship with NSG,” said Paolo Scaroni, Pilkington group chief executive. “NSG’s decision to increase its shareholding recognizes the untapped value within Pilkington and represents a strong vote of confidence in the transformation of the group into one of the world’s most competitive glass companies.”
According to analysts, NSG increased its shareholdings in order to “bolster investor confidence.” Reportedly, NSG net profits have fallen sharply due to investments in the American telecoms market.
Guardian Hosts Cornerstone-Laying Ceremony for New Polish Float Plant
More than 300 customers, friends and government officials were welcomed at Guardian Poland in the city of Czestochowa for the cornerstone-laying ceremony of the company’s seventh European float line. According to a spokesperson for Guardian, the new plant represents an investment of more than 100 million EURO.
Guardian announced its intent to build its 21st plant last December. Construction began in June and production is scheduled to begin in late 2002. The plant is expected to produce 650 tons of float glass per day.
CRL Acquires Western Canadian Division of Joseph Taylor
C.R. Laurence Co. Inc. (CRL) has purchased the assets of the Western Canada division of Joseph Taylor Inc.
“In a continuing effort to ever improve our Canadian services, the Western Canada division of Joseph Taylor will now be merged with our existing Calgary branch, and the combined operation will serve the provinces of Alberta, Saskatchewan and Manitoba from our branch location in Calgary, Alberta,” said Donald E. Friese, CRL president and chief executive officer. “We’re also happy to announce that in early 2002 we will be building a new, state-of-the-art, 30,000-square-feet facility in the Foothills Business District in Calgary. Upon completion, the combined operation will move to that location.”
Joseph Taylor’s existing staff, including Grant Armstrong, who served as Joseph Taylor’s Calgary manager for more than 20 years, will join CRL’s Calgary team.
ITA Rules in Favor of Anti-Dumping Petitioners
The International Trade Administration (ITA) has ruled in the favor of Pittsburgh-based PPG, Columbus, Ohio-based Safelite and Minneapolis-based Apogee Enterprises in its preliminary decision in the anti-dumping case filed by these three companies against Chinese automotive replacement glass windshield manufacturers. The decision came on September 10 (nearly three weeks after its original due date of August 31) after several postponements of the decision—first due to findings by the ITA that the case was “unusually complicated” and then at the request of the petitioners for an extension.
The ITA reported that in its preliminary investigation, it found certain automotive replacement glass windshields from China are being, or are likely to be, sold in the United States at less than fair value.
The ITA preliminarily found a dumping margin of 124.50 percent for some 23 Chinese producers of windshields and a dumping margin of 9.79 percent for Fuyao Glass Industry Group Ltd. and its wholly-owned U.S. importer, Greenville Glass Inc.
The final decision from the Department of Commerce had been scheduled for November 26, but has also been postponed until February 1, 2002. At press time, the reason for the postponement was not available.
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