Pilkington IV (IFC-38822)

  • World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 31, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 4, 2017

Disclosed by Bank Feb 10, 2017

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The proposed project entails the investment program of NSG UK Enterprises over the next two years, and ranges from investments in manufacturing new glass models for the automotive industry to ongoing maintenance of float glass lines and investments in research and development. Specifically, the IFC loan is expected to be utilized for: (i) partial financing of the Company’s FY16-18 capex in Poland; (ii) funding research and development (R&D) expenses geared towards improving energy efficiency of the manufacturing processes so as to produce more climate friendly products which is primarily performed in UK and new products and processes are rolled out across all NSG/Pilkington operations in emerging and developed markets; and (iii) refinancing of high priced debt.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
NSG UK is involved in manufacturing of architectural and automotive glass products and its operations span across Europe and South America as well as in USA and India. In FY16, (period ending March 31, 2016), the Company recorded annual revenues of £2.3 billion, and total assets of £4.05 billion. Headquartered in Tokyo, Nippon Sheet Glass Co. Ltd. (“NSG Group”) is a well-diversified global manufacturer of glass and glazing products for the automotive, architectural and technical glass markets. The company is listed on the Tokyo stock exchange and has market capitalization of JPY 78.7 billion (US$ 675 million equivalent) as of January 6, 2017. In FY16 (period ending March 31, 2016), NSG Group recorded annual revenues of JPY629 billion (US$5.1 billion equivalent). As of September 30, 2016, NSG Group had total assets of JPY709 billion (US$6.1 billion equivalent).

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
NSG Group Judy Massa Group Treasurer +44 1 744 69 21 02 Judy.massa@nsg.com European Technical Centre - Hall Lane – Lathom L40 5UF - United Kingdom www.nsg.com ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

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