AGC (AGC Inc., Headquarters: Tokyo; President: Yoshinori Hirai) hereby announces that it has transferred all shares of Al Obeikan AGC for Glass Joint Venture (headquartered in Riyadh, Kingdom of Saudi Arabia) held by AGC through its group company, AGC France Holding SAS, to Obeikan Glass Company (headquartered at Riyadh, Kingdom of Saudi Arabia), its partner and co-shareholder of Al Obeikan AGC for Glass. The transaction was completed on November 25, 2025 following clearance by the Saudi competent authorities.
Under its medium-term management plan, AGC plus-2026 , the AGC Group is promoting "ambidextrous management" in its aim to build a business portfolio that is resilient to market fluctuations and has high asset efficiency, growth potential, and carbon efficiency. Regarding this joint venture, we determined that it would be optimal for Obeikan Glass Company, which operates a float glass business in the Middle East, to take the lead in its management, and thus decided on this transfer.
AGC will remain an active contractual partner of Obeikan Glass Company within the scope of the activities for technical support, licensing and product development of soft coated glazing solutions for architectural applications.
The impact of this transaction on AGC’s consolidated business results will be minimal.
REFERENCE
1. Profile of Al Obeikan AGC for Glass
Al Obeikan AGC for Glass was incorporated on December 3rd, 2015 as a joint venture established by AGC Group and Obeikan Glass Company to serve the increasing demand of high performance coated glass for construction sector in Middle East and Africa market. The company coating facility is located in Yanbu Royal Commission industrial area at the west coast of kingdom of Saudi Arabia.
2. Profile of AGC Group
The AGC Group, with Tokyo-based AGC Inc. at its core, is a world-leading supplier of architectural, automotive and display glass, chemicals and other high-tech materials and components. Drawing on more than a century of technical innovation, the AGC Group has developed world-class expertise in fields including glass, chemistry and ceramics technologies. The group operates business in about 30 countries. For more information, please visit www.agc.com.
3. Profile of Obeikan Glass Company
Obeikan Glass Company is a float glass manufacturer based in Saudi Arabia. It commenced its operations in February 2011. Obeikan Glass Company operates the largest manufacturing facility of its kind in the Middle East region with a capacity of 800 tons per day. Located in Yanbu Industrial City, close to Jeddah port, the plant produces float glass of international quality standards, which is exported to more than 30 countries worldwide in Asia, Africa, America, Australia and Europe. Obeikan Glass Company is owned by the industrial conglomerate Obeikan Investment Group (www.obeikan.com.sa) and the investment company Saudi Advanced Industries Company (www.saic.com.sa).
