Volume 44, Issue 9 - September 2009

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Nippon Sheet Glass President Stuart Chambers Steps Dow
Stuart Chambers, who has served as president, chief executive officer (CEO) and representative executive director for Nippon Sheet Glass (NSG) Group since June 2008, is stepping down from his position effective September 30, 2009. He will assume the role of senior advisor to the company’s board as of that date.

Katsuji Fujimoto, chairman of NSG Group, has been appointed president and CEO and representative executive director, and will be responsible for managing the operations of the NSG Group, effective October 1.

At the same time, Yozo Izuhara, currently chairman of the board, will assume the role of non-executive chairman of the NSG Group. These appointments will remain in place as long as is necessary for the company to put in place a long-term succession, according to the statement from the company.

“The board of NSG recognizes the major contributions Stuart Chambers has made during his tenure in improving the operational and financial strength of the company,” says Izuhara. “Despite the current global economic downturn, we have made considerable progress on our strategic objectives. The integration is complete, our initial target for net debt reduction has been met a year early and decisive action has been taken to restructure the group to address the new market conditions. I take this opportunity to thank Stuart for his commitment and enthusiasm throughout the last three years in helping to create an integrated and international NSG Group.”

 

Coastal Glass Distributors to Cease Operations
In a letter sent on August 25 to customers, Jack Hoey, president of Coastal Glass Distributors in Charleston, S.C., announced that the company would be ceasing operations “after efforts to obtain ongoing financing proved unavailing.”

According to the letter, Coastal stopped accepting orders at the close of business that day. Final deliveries were to be made by August 31.

“All of us at Coastal Glass are grateful for the confidence and support you have given us over the years,” wrote Hoey. “It has been our privilege to serve you. We wish you all the success in the future.”

At press time Hoey had not responded to USGlass’ request for additional comment. However, an August 26 article in the Charleston Post Courier reported that the plant workers learned just hours before customers that their jobs were gone. “That was when we made our decision,” Hoey told the newspaper. According to the article, the company is still working on a plan to help its 120 employees move to new jobs.


USG
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