AGC Inc. is selling its North American architectural glass business to Cardinal Glass Industries and reached an agreement to transfer, subject to the approval of the related authorities, at the earliest in July 2021.

Under the medium-term management policy AGC plus-2023 announced in February, the company has looked for improvements in the profitability and asset efficiency of its architectural glass business which have been designated as a priority issue.

Regarding the operations of the architectural glass business in North America, AGC has concluded that it will create further growth opportunities by transferring it to Cardinal who has business trading experience with AGC in the past and is expected to make the most effective use of AGC’s assets and personnel.

AGC began architectural glass business in North America in 1988, as AFG Industries (now AGC Flat Glass North America).

Sales in 2020 were ¥28.1 billion generating a profit of ¥1.1 billion, 1.6% of the overall company profits. The expected income from the sale is $450 million.