NSG Exits Vietnam Float Glass Venture Amid Shift Toward Sustainability

The NSG Group divested from a Vietnam-based float glass manufacturer as it shifts to high-value, sustainable products.

The company announced that it transferred its equity interest in Vietnam Float Glass Company (VFG), which manufactures architectural glass, to a joint venture partner. According to data provided by NSG, the company held a 65% investment ratio in VFG, followed by 35% from Viglacera Corp.– JSC, a building materials manufacturer and real estate developer in Vietnam.

VFG was Vietnam’s first float glass manufacturing company. Established in 1995, it supplies architectural glass mainly to the Vietnamese domestic market. According to VFG data, it produces up to 500 tons of molten glass per day (about 30 million square meters per year), equivalent to 145,000 tons of glass annually. It employs around 400 workers.

NSG officials say that competition in Southeast Asia’s architectural glass market has intensified recently, leading NSG to divest its stake in VFG to focus on “high-value-added products.” Officials add that the decision is part of its medium-term strategy, “2030 Vision: Shift the Phase.” The plan includes producing solar panels in Vietnam and Malaysia.