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Asahi to stop automotive glass production at Kitakyushu plant

Post Time:Apr 15,2009Classify:Industry NewsView:116

The following companies may have unusual price changes in Japanese trading tomorrow. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.

Asahi Glass Co. (5201 JT): The glassmaker said it will cease automotive glass production at its Kitakyushu plant in southern Japan because of low demand. The company said in a release that it will take a 5 billion yen ($51 million) charge for the closure, which is factored into its current earnings forecast, and relocate or buy out the plant’s 170 employees. The stock fell 4.5 percent to 556 yen [$5.6], according to an April 15 Bloomberg report.

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Source: http://www.glassmagazine.com/news-item/auto/asahi-stop-automotive-glass-production-kitakyushu-plantAuthor:

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