Japan’s NSG Group has completed the transfer of its entire 65 percent equity stake in Vietnam Float Glass Co., Ltd. (VFG) to long-time joint venture partner Viglacera Corporation JSC, the firm has said in a statement→view source.

This is part of a shift in focus to high-value-added products.

Key details:

Company background: VFG was established in 1995 as Vietnam’s first float glass manufacturer, located in Que Vo, Bac Ninh Province
Ownership structure: NSG (65 percent), Viglacera (35 percent); paid-in capital US$45 million
Reason for exit: Rising competition in commodity architectural glass across Southeast Asia
Sustainable pivot: NSG continues to operate solar panel glass manufacturing in Vietnam and Malaysia

Of note, in its statement NSG notes “competition in the commodity architectural glass market in South East Asia has intensified”. This suggests that NSG sees Vietnam, along with neighbouring countries, as saturated–a price-driven market with thinner margins, making it less attractive to multinational producers of standard glass products.

At the same time, NSG’s continued investment in solar glass production in Vietnam signals that the country still holds strategic value for high-tech and sustainability-linked manufacturing.

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