News on Glass & Refractory World, week# 11 to 16 part one

° Chongqing Polycomp International Corporation (CPIC), a subsidiary of Yunnan Yuntianhua, fully acquired Brazil’s Capivari Glass Fiber for $59.5 million, reports Securities Times, citing a company filing. Capivari Glass Fiber was formerly a subsidiary of the world’s largest maker of glass fiber, Owens Corning. The deal is pending the approval of both the Chinese and Brazilian governments.

° Owens Corning, the leading global producer of glass fiber reinforcements, on March 9 held the official opening ceremony of its new production facility in the Yuhang Economic and Development Zone, Hangzhou, China.

° Owens Corning on March 22 announced today that it is investing in the construction of a new furnace to expand production capacity at its Tlaxcala, Mexico, glass reinforcements facility.

° AGC: impacts of earthquake on glass activities
A detailed announcement done:

° Seeing the promising business opportunities generated from China energy-saving market, Taiwan Glass Group will invest US$138 million to establish an energy-saving glass plant in Wuhan of Hubei province, China.

° Vidrios Lirquen, the NSG Group’s float glass joint venture in Chile resumes production after February 2010 Chile earthquake and reaffirms its commitment to the Chilean market.
The float tank in the Concepción region of Chile has resumed production just over 12 months after being put out of action.

° Taiwan Glass Industrial Corp’s board of directors approved a plan to invest NT$3 billion in a new super-thin glass production line to meet market demand, the company said in a statement to the Taiwan Stock Exchange.

° MUMBAI: Vijay Mallya-led United Spirits (USL) will invest around Rs 600 crore to set up glass manufacturing plants

° Vitro SAB, the Mexican glassmaker that defaulted on $1.2 billion of bonds, will seek a buyer for its U.S. business if a Texas bankruptcy judge orders the units into Chapter 11.


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