Viglacera Corporation (HoSE: VGC) has announced the transfer of 64.71% of shares held by Nippon Sheet Glass Co., Ltd. (NSG) in Vietnam Float Glass Company (VFG), increasing its ownership to 100%. This decision was approved at the 2024 Annual General Meeting, aiming for total control over VFG. VFG is a major joint venture between NSG and Viglacera, specializing in float glass production with a capacity of 500 tons per day, producing approximately 30 million m2 of glass annually. VFG has a charter capital of over 512 billion VND and last year’s revenue was nearly 1.1 trillion VND, but due to a challenging market environment, Viglacera’s glass product revenue declined by 8% compared to 2023. Besides VFG, Viglacera is looking to increase its stakes in various other companies. The consolidated revenue target for Viglacera in 2025 is 14.437 trillion VND, an increase of 21% compared to 2024.
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