AGI Japan announces strategic investment of Rs 200 cr in Standard Glass Lining Technology
Hyderabad: Asahi Glassplant Inc. (AGI Japan) on Thursday announced a strategic investment of up to Rs 200 crores in Standard Glass Lining Technology Limited and its affiliated companies, marking the initiation of a long-term business partnership.
With a total turnover exceeding Rs 1050 crore, AGI Japan, along with GL HAKKO and its affiliates, will secure a minority stake in Standard Glass Lining Technology Limited, positioning this collaboration as a pivotal force in both AGI Group and the Standard Group's industries and geographies, the company said in a release here.
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 components while adhering to the stringent quality standards that AGI and its valued customers expect.
AGI Japan envisions further investment opportunities in businesses closely associated with the Standard Group, particularly those involved in manufacturing mechanical seals, barrier isolators, valves, and other cutting-edge electromechanical products.
Leveraging its robust marketing and sales infrastructure, the Standard Group aims to roll out SEF Glass (Conductivity Glass) technology, enhancing the safety of glass-lined reactors.
(With UNI inputs)
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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