Nippon Sheet Glass : Restart of Float Glass Line in Europe
February 13, 2017 at 01:53 am EST
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The NSG Group announces its decision made today to restart a float glass furnace in Europe in FY2018.
Summary
The Group plans to restart a suspended architectural glass float line at the site of its wholly-owned subsidiary in Venice, Italy ('Venice Line'), in the third quarter of FY2018. With process modifications associated with the restart, the Venice Line will become capable of producing VA (value-added) products.
Background
By restarting the Venice Line, the NSG Group intends to ensure the stable supply of architectural glass in response to a robust market demand in Europe, in view of the planned cold repairs of the Group's operating float glass lines in Europe in the coming years, as well as to drive the Group's shift to a higher VA sales ratio.
Financial Impact
An exceptional credit of approximately JPY2billion is to be recognized in the fourth quarter of FY2017, mainly due to the reversal of exceptional costs such as impairment of non-current assets recorded in the past. The impact on the year-end forecast of FY2017 is under review, and if necessary, we will make a disclosure in a timely manner.
NSG - Nippon Sheet Glass Co. Ltd. published this content on 13 February 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 13 February 2017 06:52:12 UTC.
Original documenthttp://www.nsg.com/en/media/announcements-2017/restart-of-float-glass-line-in-europe
Public permalinkhttp://www.publicnow.com/view/1F5BA7DA4B7999871C6567FD222780CD5826A03E
Nippon Sheet Glass Company, Limited is mainly engaged in the manufacture and sale of glass products. The Company operates in four business segments. The Construction Glass segment provides sheet glass for construction material market and processed glass for interior and exterior uses. The Automobile Glass segment offers glass products for new automobile assembly and repair uses. The Functional Glass segment offers thin sheet glass for small displays, printer lens and optical components, as well as glass fiber products, such as battery separators and engine timing belt materials. The Other segment is involved in corporate management and other small businesses.
NIPPON SHEET GLASS COMPANY, LIMITED 
