, AGCAGC Transfers All of the Shares of Schott Gemtron
AGC Inc. (AGC, Headquarters: Tokyo; President: Yoshinori Hirai) transferred all of the shares of Schott Gemtron Corporation (Schott Gemtron) and its subsidiaries held by its subsidiary, AGC Flat Glass North America and other company, to SSW Advanced Technology LLC – a portfolio company of Trive Capital Management LLC (Headquarters: Dallas, Texas, USA). The parties agreed not to publish any transaction details. The impact of this transaction on AGC’s consolidated business results will be minimal.
Schott Gemtron is a company specialized in the production and sale of glass products mainly for the home appliance industry in North America. The AGC Group had owned 49% of the company’s outstanding shares in the Building & Industrial glass business.
Under the AGC plus-2023 medium-term management plan announced in February this year, AGC has strived for improvements of the profitability and asset efficiency of its Building & Industrial glass business, which have been designated as one of the AGC Group’s priority issues. This transfer deal is conducted as a part of the improvement measures.
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