AGC to Build Glass Plant in
April 25, 2011
AGC announced today it is set to move into Brazil's construction and automotive glass markets, investing approximately $470 million USD (40 billion yen) in an industrial glass complex in São Paulo, Brazil. The plant, operating under the name of AGC Vidros do Brasil Ltda., will produce float glass, mirrors, coated glass and automotive laminated and tempered glass.
The facility will roll out in phases starting in 2013. By 2016, the company expects to manufacture and market 220,000 tons of construction glass per year, as well as automotive glass for 500,000 vehicles per year. It will employ about 500 qualified people.
AGC is forecasting robust demand in the Brazilian economy, which saw GDP grow 7.5 percent in 2010 and is expected to achieve stable, sustained growth in the years to come. Glass demand will be fuelled by the local construction and automotive markets. The building sector is stimulated by state investment programs in housing and by upcoming global sporting events. Indeed, AGC joins a growing list of glass companies that are expanding into Brazil.