AGC Asahi Glass (AGC) announced it will invest approximately $158.3 million USD (18 billion Japanese yen) in its consolidated subsidiary, AGC Glass Brazil, to build a second float glass production plant in the southeast region of Brazil. The new facility will serve the automotive glass market, among other business units.
According to the company, the new plant is scheduled to be completed by the end of 2018 and will increase AGC’s glass production capacity in the country to 2.4 times the current level.
AGC established AGC Glass Brazil in 2011 and its operations started in 2013.
“With a relatively young population of approximately 200 million people and abundant natural resources, Brazil is expected to maintain its economic growth from a medium and long-term perspective,” a release from the company reads. “The demand for architectural glass and automotive glass is also projected to grow. In such a business environment, AGC will enhance its production capacity in Brazil to 530,000 tons per year, up 310,000 tons from the current 220,000 tons a year.”