The Philippine Competition Commission (PCC) approved the transaction of TQMP and AGC in December last year
TQMP Glass Manufacturing Corp. plans to increase production at its newly acquired flat glass factory from AGC Flat Glass Philippines, Inc. (AGPH) , following the acquisition by the former of 100% of the issued and outstanding shares owned by the flat glass manufacturer.
TQMP President Paul Vincent Go said the company planned to produce value adding products such as figured glass used for housing projects.
The Philippine Competition Commission (PCC) approved the transaction of TQMP and AGC in December last year, but the approval took a while since the firms notified the anti-trust body only in June last year. According to the PCC, a favourable decision could be issued in the Phase I review as it has seen “concerns on potential input foreclosure in the downstream wholesale supply market of clear and bronze float glass.”
To address competition concerns, TQMP submitted its voluntary commitments including setting prices and providing services to customers through fair, reasonable, and non-discriminatory measures, and maintaining a non-discriminatory practice in the processing of purchase orders and delivery of products and services. It also vowed to sell products or services to glass distributors on terms no less favourable than similarly situated customers.
With these commitments, the PCC approved the transaction.
The acquired facility is located in a 28-hectare property with a daily production capacity of 500 tons per day.
AGC Regional President for Asia Pacific General Division M...
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