Asahi Glass takes majority ownership in 3 Thai joint ventures
Asian Economic News, Nov 13, 2000
TOKYO, Nov. 7 Kyodo
Asahi Glass Co. said Tuesday it has doubled its stakes in its three joint ventures in Thailand to take majority ownership in them and bought a partner out of a fourth.
Japan's largest comprehensive glass manufacturer purchased all shares held by the Srifuengfung & Phanichewa group in Thai-Asahi Glass Public Co., Bangkok Float Glass Co. and Thai Safety Glass Co. It plans to own 100% of the firms' stock by purchasing all the remaining shares from other stakeholders.
Asahi Glass intends to make the three function as an important production center in Asia under its global business strategy, it said.
It also indirectly acquired all the shares from the group in Thai-Asahi Electronic Devices Co., of which it owned 70% previously.
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