Latest News in Commercial Glass

  • The residential real-estate rebound suffered a setback in June as housing starts unexpectedly fell to the lowest level in almost a year, according to a July 17 Bloomberg report. The drop was led by a 26.2 percent plunge in multifamily projects.However, the monthly drop should not be "immediately concerning," said Guy Lebas of Janney Montgomery Scott LLC in the article. "The housing markets...
  • Nippon Sheet Glass Co. reported a 5.6 percent decline in revenues in fiscal year 2013, compared to fiscal year 2012, according to the company's FY 2013 Annual Consolidated Financial Results, released May 16. The company reported operating losses of about $170 million for the year. Sales for fiscal 2013 were down 9.2 percent from the previous year."During the fourth quarter of the year, the Group...
  • The 2013 forecast for construction-put-in-place is up 8 percent―$918 million―over 2012, according to consulting and investment firm, FMI. Even with the strong improvement, however, FMI does not expect annual construction to go above the trillion-dollar mark until 2015.Residential buildings have shown the biggest improvement. While the single-family sector grew 23 percent in 2012, multifamily...
  • Nonresidential construction activity experienced slow growth in 2012, though the net effect was negligible in categories favorable to architectural door volumes, according to the AAMA/WDMA 2012/2013 U.S. Industry Statistical Review and Forecast jointly released by the American Architectural Manufacturers Association and the Window & Door Manufacturers Association. In 2012,...
  • PPG Industries, Pittsburgh, announced June 16 that it expects its second quarter earnings, excluding unusual items, to be in the range of $1.40 to $1.50 per share. Adjusted earnings per share were 91 cents per share in the second quarter 2009 and 70 cents per share in the first quarter 2010.“We are continuing to experience year-over-year demand improvements in the second quarter...
  • Asahi Glass Co., Japan’s biggest glass producer, plans to sell as much as 100 billion yen ($1.1 billion) of convertible bonds for investments and to repay maturing debt.The Tokyo-based company will sell 45 billion yen each in three-year and five-year zero-coupon convertible bonds, according to a filing with Japan’s Finance Ministry today. Sale underwriters Nomura International Plc and...
  • Japanese stocks edged up, sending the Nikkei 225 Stock Average to its longest winning streak in five months, led by glassmakers on optimism sales of flat-screen materials will recover.Asahi Glass Co. and Nippon Electric Glass Co. surged more than 5 percent after JPMorgan Chase & Co. rated them “overweight” on expectations sales will rebound, according to a June 3 Bloomberg report...
  • One might have thought that investors would tread cautiously around a stock that has already risen more than 200 percent this year, but as it were, investors were happy to buy Hong Kong-listed Xinyi Glass Holdings last night when the stock was offered through a combined placement of new and existing shares. The share sale was ultimately upsized by 21 percent, which resulted in a final deal...
  • Japan’s Nikkei 225 Stock Average rose 251.6, or 2.8 percent, to 9,290.29 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.Asahi Glass Co. (5201 JT) climbed 9.4 percent to 674 yen, the highest since Oct. 15. The glassmaker was lifted to “buy” from “neutral” by...
  • Japanese stocks slid for the first time in six days on concern earnings will continue to decline this year and that a recent share rally was overdone.Asahi Glass Co. surged 12 percent after Nomura Holdings Inc. raised its rating on the company to “buy.”
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What's Hot

  • PPG Industries today announced that it has reached a definitive agreement to sell substantially all the assets of its Mt. Zion, Ill., glass manufacturing facility to automotive glass manufacturer Fuyao Glass America Inc. The sale is expected to close in the third quarter 2014, subject to customary closing conditions. Financial terms were not disclosed.The Mt. Zion facility currently manufactures...
  • Officials from Cardinal Glass Industries announced July 3 that its subsidiary Cardinal CT Company acquired the assets of Catalina Tempering Inc. and its subsidiaries. The terms of the agreement are undisclosed.Catalina operates seven regional custom tempering facilities serving the residential window and door market. “Over the last ten years, Catalina has built its business based on quality...
  • AGC Glass Company North America announced it will be consolidating its fabrication capabilities in Jacksonville, Fla., into the company’s more than 200,000 square foot facility in Lithia Springs, Ga. The consolidation of the Jacksonville operations into Lithia Springs should be completed no later than the fourth quarter of 2014.The Lithia Springs plant is AGC’s new state-of-the-art facility and...