AGC

Park Electrochemical Corp. has entered into a definitive agreement to sell its Electronics Business to AGC Inc. for $145 million in cash. The transaction is expected to close in Park's third fiscal quarter ending November 25, 2018.

AGC Asahi Glass will invest approximately 19 billion yen to relocate a float furnace and mirror manufacturing facility from its Jakarta Plant to the Cikampek Plant in West Java, Indonesia, increasing float glass capacity by 40% and mirror capacity by 30%. Mass production is scheduled to commence in Q1 2019.

AGC Asahi Glass will build a new solar-control coating facility for architectural glass at the Cikampek Factory of PT Asahimas Flat Glass Tbk in Indonesia. Capital investment is about 4.0 billion yen, with production capacity of about 6.0 million m2 per year, and start planned for Q2 2018.