AGI Japan to invest `200 cr in Standard Glass Lining Tech

Asahi Glassplant Inc (AGI Japan) has announced a strategic investment of up to Rs 200 crore in 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 Group, 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.

Yasuyuki Ikeda, CEO of AGI Japan, 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.

Nageswara Rao Kandula, MD, Standard Group, conveyed his happiness and gratitude to AGI. 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.