Following the news in June that AGC had agreed to sell its North American architectural glass business to Cardinal Glass (https://www.glass-internationa...), the company has confirmed the transfer has now been completed.
The deal is reportedly worth $450 million and will see AGC sell all three of its plants in Kansas, Tennessee and Virginia, which altogether has three flat glass furnaces and two coaters.
The transaction is expected to generate a profit of approximately 25 billion yen ($227,000), which is expected to be recorded as other income in the consolidated financial results for the third quarter of the fiscal year ending 31 December 2021.
