Fuyao Glass Industry Group Co. Ltd. (FYG), China“s biggest windshield maker, announced on 23 April 2009 that it will fund four subsidiaries.
FYG and its subsidiary Fuyao (Hong Kong) Ltd. will dedica…
Fuyao Glass Industry Group Co. Ltd. (FYG), China“s biggest windshield maker, announced on 23 April 2009 that it will fund four subsidiaries. FYG and its subsidiary Fuyao (Hong Kong) Ltd. will dedicated RMB 90 million to the Fuyao (Fujian) Bus Glass Co Ltd 75:25 joint venture to lift its registered capital to RMB 100 million from the current RMB 10 million. FYG said it will also cooperate with Midland Ltd., an indirectly owned unit, to supply USD 5 million to Fuyao Glass Chongqing Co. Ltd., raising its registered capital to USD 17 million from the present USD 12 million. Moreover, FYG plans to dedicated USD 5.1 million to South Carolina-based Fuyao (N.A.) Ltd. and USD 4 million to its subsidiary Fuyao (Hong Kong) Co. Ltd., to enhance glass export business.