NSG reshapes automotive glass business in China
Automotive glass processing operations fully owned by NSG in Guilin and Tianjin are to be transferred to SYP Kangqiao Autoglass.
Proceeds from the sale of Tianjin NSG Safety Glass and Guilin Pilkington Safety Glass will increase NSG’s 20% stake in SYP Automotive to approximately 29%.
The largest shareholder in SYP Automotive is Shanghai Yaohua Pilkington Glass (SYP). The shares in SYP are listed on the Shanghai Stock Exchange.
NSG Group has had a long standing partnership with SYP for over 30 years with a 13% equity stake.
In addition to its investment in SYP Automotive, SYP is recognized a high-quality manufacturer of advanced coated float and processed products for the Chinese architectural glass market.
Through this integration, NSG Group and SYP Automotive will work in partnership to develop and grow SYP Automotive’s automotive processing business in China.
As an active participant in the partnership, NSG will help SYP Automotive to enhance its ability to satisfy increasingly complex demands for glazing solutions, including meeting expectations from established global automakers looking to develop advanced glazing supply inside China.
Image: NSG deal changes ownership of Chinese automotive glass operations.
