By David Reed, UT EditorBrussels-Recticel and AGC Automotive Europe SA are streamlining their automotive glass activities in Belgium, France and the Czech Republic, in a series of deals involving several of their existing joint ventures.
Under an agreement between the two firms, AGC is taking over the plant of Valenciennes, France, (100 percent owned by Recticel), as well as Recticel's 50-percent share of the Splirec joint venture between AGC and Recticel in Teplice, Czech Republic.
Both facilities specialise in component sub-assemblies and window seal assembly using Colofast light-stable polyurethane elastomer compositions.In addition, Recticel is taking over AGC's 50-percent stake in the Splifar joint venture with Recticel in Gilly, Belgium, although AGC plans to continue its relationship with Splifar as its main business partner, the Recticel statement says.Recticel will continue supplying its unique and patented compounds including Colofast polyurethane to the concerned facilities.
An undisclosed price will be paid in cash to Recticel retroactively effective from 30 June. The Valenciennes and Teplice facilities employ 550 associates and have recorded an annual turnover of €27 million ($33 million). Splifar in Gilly has a workforce of 60 with annual sales of about €5 million ($6.1 million).
Through these changes, both AGC Automotive Europe and Recticel Group are confident to improve and streamline their supply chain, providing quality products and superior service, the statement concluded.Recticel has about 100 establishments in 20 countries, with a strong European dimension. It is involved in the manufacture of flexible polyurethane foam products used in seats and mattresses as well as rigid polyurethane foam insulation materials, interior comfort products for cars, and an extensive range of other industrial and domestic applications.Recticel achieved sales of nearly €1300 million in 2004.AGC Automotive is one of the four in-house companies of Asahi Glass Co. Ltd., the world's largest glass manufacturer.
Headquartered in Tokyo, AGC Automotive is present in America, Japan, Asia and Europe, supplying automotive glazing and services to all major OEM vehicle manufacturers. The firm claims a global market share of 30 percent and has a turnover of over $2600 million.AGC Automotive Europe, with a 4800-strong workforce, covers the entire value chain from design and development to manufacture and supply of all automotive-related glazing such as windscreens, sidelights, backlights and sunroofs. With nine main manufacturing locations, AGC Automotive Europe covers western, central and eastern Europe. The firm also operates the AGC Automotive Replacement Glass network of 23 aftermarket distribution and service centres covering the replacement glass market."