Hyderabad, Nov 17: Asahi Glassplant Inc. (AGI Japan) on Thursday announced a strategic investment of up to INR 200 Crores in Standard Glass Lining Technology Limited and its affiliated companies, marking the initiation of a long-term business partnership.
With a remarkable total turnover exceeding INR 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 CEO Mr. Yasuyuki Ikeda, who has been serving as a non-executive director of Standard Glass since March 2023, contributing to the global expansion of the Standard Group. His wealth of knowledge in the global market is anticipated to create synergies that will significantly impact the business.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.
Mr. Nageswara Rao Kandula, the Managing Director of Standard Group, conveyed his happiness and gratitude to AGI and Mr. Ikeda for placing their trust in the Standard Group.
He expressed a profound sense of obligation to AGI and Mr. Ikeda, viewing this investment not only as a business opportunity but as a commitment to fostering an exceptional business partnership and delivering substantial returns to shareholders.
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.
