Fuyao Glass Industry Group Investing $400 Million in Illinois Float Glass Production Line

MT Newswires Live03-19

Fuyao Glass Industry Group (SHA:600660) is planning to invest $400 million yuan in US subsidiary Fuyao Glass America.

Fuyao Glass America will then invest in Fuyao Illinois for the construction of an automotive-grade float glass production line, according to a Wednesday filing with the Shanghai bourse.

The investment aims to enhance supply chain security and reduce costs.

Shares of the glass manufacturer were down 5% in recent trade.

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