November 6, 2003Management

Asahi Glass to Establish Company in Shanghai to Develop Chemicals Business

Asahi Glass Co., Ltd. (Headquarters: Tokyo; President & CEO: Shinya Ishizu) has announced a decision to establish in November 2003 a company in Shanghai, China to primarily market chemicals products. The company is expected to start operations in January 2004.

Chemicals Company, an in-house unit of Asahi Glass, currently markets fluorine-based products in China, including optical filters for plasma display panels (PDPs), fluorinated resins, water- and oil- repellent agents as well as cleaning agents. Chemicals Company markets these products jointly with local partners, by giving instructions and dispatching staff from the Japanese head office on business trip bases. Given the potential for rising demand for fluorine-based products in China, Asahi Glass decided to establish the new company as a marketing base in that country, aiming to sell more products and develop efficient marketing operations through close contact with local customers.

A profile of the new company is as follows:

Company name: AGC Chemicals Trading (Shanghai) Co., Ltd.
Office: Shanghai, China
Established: November 2003 (scheduled)
Start of marketing operations: January 2004 (scheduled)
Capital: ¥168 million (approx. 12 million yuan)
Shareholder: Asahi Glass Co., Ltd. (100%)

The operations of AGC Chemicals will include marketing of Chemicals Company products, managing product inventory and collecting information on local markets. In addition, the company will procure materials and products from Chinese manufacturers, market products made by other divisions of Asahi Glass and help group companies operate smoothly in China. Asahi Glass expects sales at the new company to total \7 billion in fiscal 2005.
For details, please contact:
Shinichi Kawakami
General Manager, Corporate Communications Division
Asahi Glass Co., Ltd.
Contact: K. Oda
TEL: +81-3-3218-5408