Display glass biz likely to grow 10 times with AvanStrate Inc, says Vedanta
Vedanta Limited on Wednesday said its display glass business is expected to grow 10-fold, following the consolidation of its holding in AvanStrate Inc.
Vedanta Ltd, in May this year, announced the acquisition of an additional 46.57 per cent stake in AvanStrate Inc, taking its total holding in the Japanese display glass manufacturer to about 98 per cent.
ASI is now fully managed and controlled by Vedanta Limited and free from any external debt, according to a release.
"Vedanta Limited announced that the display glass business is set to grow 10x after consolidating its holding in AvanStrate Inc. (ASI), a Japanese display glass manufacturer, to 98 per cent, following the acquisition of 46.57 per cent equity from Hoya Corporation," the release said.
According to the release, ASI is set to drive innovation and expansion, focusing on the future of high-tech display and glass substrate manufacturing.
ASI, the release further said, is well-positioned to strengthen its role in the global .