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MarketScreener Homepage  >  Equities  >  Tokyo  >  AGC Inc    5201   JP3112000009

AGC INC

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AGC : Establishes a New Production Plant in China to Produce Large 3D/Complex-shaped Cover Glass for Car-mounted Displays

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09/11/2019 | 10:37pm EDT

Due to major changes in the automotive industry, including autonomous driving, electrification and connected technology, vehicle cockpits are expected to continue adopting innovative, dynamic design as they evolve into a digital lounge. Driven by this trend, car-mounted display cover glass is expected to increase in size, shape-complexity, functionality, while at the same time, safe design is becoming a key demand as sizes increase. AGC has built up over 60 years of design expertise as a world-leading automotive glass company, which it draws on to supply customers with cover glass that delivers both high quality and safety.

In 2013, AGC became the world's first company to establish a production system for car-mounted display cover glass that fully integrates every stage from raw glass to final processing, and launched the product for sale that year. In 2017, the company also began manufacturing and offering curved glass in addition to the already available flat glass, and now holds the distinction of top global market share.
Together with the two existing plants in Japan, the establishment of this new plant marks AGC's third production facility, thereby securing a framework that will enable the company to provide high-quality glass on a global level. AGC also plans to establish a new development center specializing in new design and high functionality at its Keihin Plant in Japan in order to realize a system able to flexibly adapt to upcoming changes in cockpit design.

Highly acclaimed for its advantages shown below, AGC's car-mounted display cover glass has been adopted for more than 70 vehicle models, with total shipments expected to reach 20 million units by September 2019.

Ensures the level of safety expected from an in-vehicle material by being molded under a special process that ensures maximum glass strength after undergoing AGC's unique design and evaluation process
Provides a superior quality product as a result of AGC Group handling every aspect of the production process - including production of the chemically strengthened glass, application of optical thin coating, decorative printing, and composite molding of complex curved surfaces
Plays a key role in improving both the viewing clarity and usability of displays through proprietary coating and decorative printing technologies covered by multiple patents

Under its AGC plus management policy, the AGC Group has made a commitment to create products that add various pluses for stakeholders. Pluses for society include 'safety,' 'security,' and 'comfort,' while pluses for customers include 'new value' and 'functionality.' As a pioneer of car-mounted display cover glass, the AGC Group is dedicated to pursuing technological innovations that allow it to continue providing products that add new value and exceed customers' expectations.

REFERENCE

1. Overview of new production plant
(1) Company AGC Automotive (Suzhou) Co., Ltd.
(2) Location No.158 Wang- Jiang Road, Suzhou Industrial Park, P.R.China
(3) Start of Sales 2022 (scheduled)
(4) Business activities Production of car-mounted display cover glass
2. Overview of car-mounted display cover glass

(1) Events to date

2013: Production of car-mounted display cover glass began at AGC Display Glass Yonezawa Co., Ltd.
2017: Mass production of world's first* 3D curved cover glass for car-mounted displays began at AGC's Keihin Plant
*: As of May 23, 2017, based on AGC research

(2) Production plants as of September 2019
Flat glass product: AGC Display Glass Yonezawa Co., Ltd. (Yonezawa, Yamagata Prefecture)
Curved glass product: AGC's Keihin Plant (Yokohama, Kanagawa Prefecture)

Disclaimer

AGC - Asahi Glass Co. Ltd. published this content on 12 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 September 2019 02:36:01 UTC

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Financials (JPY)
Sales 2019 1 530 B
EBIT 2019 103 B
Net income 2019 63 957 M
Debt 2019 394 B
Yield 2019 3,59%
P/E ratio 2019 11,4x
P/E ratio 2020 9,72x
EV / Sales2019 0,74x
EV / Sales2020 0,68x
Capitalization 731 B
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