China’s Fuyao Glass to Build New Plant in Russia

Fuyao Glass Industry Group Co., Ltd., China’s largest manufacturer of automotive glass components , plans to set up a new manufacturing plant in the capital city of Kaluga Oblast in Russia with a registered capital of US$60 million. With a total investment to US$200 million (approx. €142 million), the wholly-owned subsidiary will be engaged in the production and sales of 3 million units of automotive safety glass products annually from february 2013. The first phase of the project is expected to be completed in December 2012. The location of the plant is in the ’Grabchevo Industrial Park’,about 150 kilometers southwest of the Russian capital and along the major road and railway between Moscow and Kiev, capital of Ukraine.
Fuyao Glass already supplies components to carmakers based in Russia. Its major competitor in the Russian market is AGC Bor Glassworks, which is part of Japanese Asahi Glass Co.