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AGC reports 2011 financials, expects glass shipments in North America to experience 'moderate recovery' in 2012

Post Time:Feb 10,2012Classify:Company NewsView:236

In a report detailing the company's financials for the fiscal year ended Dec. 31, 2011, 

 

In the architectural glass business, shipments in Japan for the full year increased from the previous fiscal year due to strong demand, despite slumping temporarily in the first half of the fiscal year following the Great East Japan Earthquake. Shipments in Asia for the full year also increased from the previous fiscal year, supported by generally favorable demand, despite a decline in the fourth quarter caused by the effects of floods in Thailand, according to the release.

 

On the other hand, shipments in Europe underperformed in the latter half of the year, namely in Western Europe, due to the effects of deteriorating economic conditions, although demand had been recovering moderately until the middle of the year. Shipments in North America remained sluggish. In the automotive glass business, shipments in Russia and China expanded. However, the AGC Group's shipments were affected significantly by the earthquakes and tsunami in Japan and the Thai floods, and consequently decreased from the previous fiscal year, according to the report.

 

Looking ahead to 2012, the AGC Group expects shipments of architectural glass to be strong in Japan and Asia, while shipments in North America are likely to experience a moderate recovery. There is concern that shipments in Europe will be weak, due to economic uncertainty. 

Source: www.glassmagazine.com Author: shangyi

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