AGC (Asahi Glass Co., Ltd.; Head Office: Tokyo; President & CEO: Kazuhiko Ishimura) announces that its consolidated subsidiary AGC Glass Europe (AGEU) has signed a letter of intent with Obeikan Glass Company (Head Office: Saudi Arabia; Chairman: Fahad Obeikan), a Saudi Arabian glass manufacturer, to establish a solar control glass coating joint venture. The processing line for temperable solar control glass coating will be built in Yanbu, Saudi Arabia, where Obeikan Glass already operates the largest float glass plant in the Gulf region. Operations are scheduled to start in early 2016. Obeikan Glass is owned by Saudi conglomerates Obeikan Investment Group and Saudi Advanced Industries Company.
Source: Asahi Glass Co., Ltd./Obeikan Glass Company