Asahi Glass Co. Ltd. (AGC) recently announced it has made an agreement with ADEKA Corp. to acquire all 787,500 ordinary shares of Kashima Chemical Co. Ltd. Kashima Chemical will reportedly become AGC’s subsidiary in which AGC takes a 78.75% stake. The shares were scheduled to be transferred on December 25, 2012. Epichlorohydrin produced by Kashima Chemical is used as a raw material for epoxy resins that are essential to the automobile and electronics industries.
AGC Acquires Kashima Chemical
January 3, 2013