Xinyi Glass Holdings

Xinyi Glass Holdings Limited, through its subsidiary Xielian Investment, has made a voluntary conditional cash offer to acquire all outstanding shares of China Glass Holdings Limited at HKD 0.90 per share, representing a 17.4% discount to the closing price. The offer also includes convertible bonds and options.

Xinyi Glass Engineering (Dongguan) Co., Ltd., a subsidiary of Xinyi Glass, signed two curtain wall glass supply contracts for the Guangzhou Liede C project and the Guangxi Financial Square in Nanning. The contracts involve the supply of ultra-clear double-silver LOW-E tempered laminated insulating glass.

Xinyi Group signed a capital increase agreement on March 20, 2020, to invest USD 100 million in a new high-end energy-saving glass deep-processing project in Zhangjiagang Metallurgical Industrial Park, Jiangsu. The project will produce Low-E coated glass, insulating glass, and laminated glass, with construction starting in H2 2020.

Xinyi Glass Holdings plans to invest $450 million into a large float glass plant in Ontario, Canada, its first North American manufacturing facility, creating 400 jobs.