NSG Argentina

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    The proposed investment consists of an US$80 million corporate loan from IFC to NSG UK Enterprises Limited (NSG UK) to support the expansion of existing operations in Argentina. NSG UK acquired Pilkington plc in 2006 and is ultimately wholly owned by Nippon Sheet Glass Co. Ltd. (“NSG” or “the Group”. NSG is a leading manufacturer of architectural and automotive glass with 28 float glass lines, 21 automotive glass plants, and large downstream glass operations in 30 countries, employing approximately 27,000 people worldwide. The Group’s focus is to manufacture products such as low iron, coated, insulating and solar control glass for buildings, automobiles, and photovoltaic modules for energy generation, which help customers to mitigate and adapt to climate change. In Argentina, NSG UK owns 51% of Vidrieria Argentina S. A. (VASA, founded in 1938), which is the only local producer of float glass in Argentina operating at almost 100% capacity at its existing operations in Llavallol (a suburb in the south of Buenos Aires). VASA also has product distribution centers in Bolivia, Paraguay, and Uruguay. The proposed investment will help finance VASA’s expansion of operations with the construction of a new float glass production line on a 33-hectare parcel located in the Exaltation de la Cruz industrial park in Cardales - 70 kilometers northwest of Buenos Aires (the “project”). Construction started in October 2018 and the project is expected to be completed and operational in May 2020 with an anticipated production capacity of 225,000 tons of float glass per year.