More business headlines
Nippon Sheet Glass raises fiscal year net profit forecast to $457 million
Officials from Nippon Sheet Glass Co., Tokyo, said Aug. 23 that its group net profit almost doubled in the April to June period, due to subsidiary U.K.-based Pilkington Plc earnings and asset sales, according to a same-day Dow Jones Newswires article.
Nippon Sheet Glass increased its profit forecast for the fiscal year through March to $457 million from $388 million, and its revenue forecast to $7.33 billion from $7.15 billion, according to the article.
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Chinese government approves Fuyao stake sale
Officials from China’s largest auto glass maker, Fuyao Group Glass Industries, said Aug. 24 that the Chinese Ministry of Commerce approved the sale of a 10 percent stake in the company to Goldman Sachs, New York, according to an Aug. 25 China Daily article.
Fuyao can sell up to 111.28 million new shares to Goldman Sachs, company officials said in a statement to the Shanghai Stock Exchange, according to the article … read more