[China] Fuyao Looks To Overseas Expansion

Fuyao Glass Industry Group, China's largest automobile glass manufacturer, said recently it will invest $420M to set up production bases in the USA and Russia, in a further step to tap into high-end overseas markets. The company will invest $200M to build a safety glass plant in the US, and $220M to establish a base to supply raw materials for its safety glass plant in the Russian market, it said.