CHENNAI: The $125 million Asahi Glassplant Inc (AGI Japan) has announced a strategic investment of up to $25 million in Standard Glass Lining Technology Limited and its affiliated companies, marking the initiation of a long-term business partnership.
The 70-year-old AGI Japan, along with GL HAKKO and its affiliates, will secure a minority stake in the $90 million Standard Glass Lining Technology Limited, positioning this collaboration as a pivotal force in both AGI Group and the Standard Group’s industries and geographies.
Under the definitive agreements, AGI Japan will play a crucial role in facilitating Standard’s entry into the Japanese market. The partnership will employ various approaches, including private label arrangements, co-branding initiatives, and the supply of compone.
Yasuyuki Ikeda, CEO, AGI Japan, has been serving as a non ED of Standard Glass since March 2023, contributing to the global expansion of the Standard Group. His wealth of knowledge in the global market is anticipated to create synergies that will significantly impact the business.