Kandula views investment to foster exceptional business partnership
Asahi Glassplant Inc (AGI Japan) has announced a strategic investment of up to Rs.200 crores in Hyderabad-based Standard Glass Lining Technology Limited and its affiliated companies, marking the initiation of a long-term business partnership.
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.
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.according to AGI announcement on 17 Nov 2023.
AGI Japan CEO Yasuyuki Ikeda has been serving as a non-executive director of Standard Glass since March 2023, contributing to the global expansion of the Standard Group,
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.
Standard Group Managing Director Nageswara Rao Kandula views the investment not only as a business opportunity but as a commitment to fostering an exceptional business partnership and delivering substantial returns to shareholders.
Standard Group, including its leading entity, Standard Glass Lining Technology Limited, is committed to broadening the presence of GL HAKKO’s products in the dynamic Indian market. 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.
AGI Japan boasts an illustrious over 70-year history as a family-owned business group, currently led by Yasuyuki Ikeda, the third-generation CEO. With a remarkable total turnover exceeding Rs.1,050 crores AGI Japan has achieved significant growth through a combination of organic expansion and strategic acquisitions, both domestically and internationally. Fiinews.com
