Japan-owned UK glass factory could shut if no buyer found, risking 250 jobs

A glass factory in Wigan that produces fibreglass for electric cars and wind turbines faces closure and the loss of 250 jobs unless its Japanese owner can find a new partner or a buyer.
In the latest blow to Britain's industrial base, Nippon Electric Glass (NEG) announced a 'strategic review' of its composites business Electric Glass Fiber UK (EGF), which it expects to last approximately two months, putting about 250 jobs at risk.
NEG said that its UK composites arm had been 'facing a challenging competitive environment with high prices for raw materials, energy, and logistics costs' that had led to 'sluggish sales'.
The company added: 'This review is part of our ongoing efforts to recover performance.'
The Wigan site produces fibreglass that is used to reinforce plastic for composites found in wind turbine blades and electric cars.
It closure would put further pressure on the Labour government's industrial strategy, expected in June, which will focus on promoting growth sectors of the economy, and areas such as advanced manufacturing.
The UK's industrial companies have struggled in the face of soaring energy costs, particularly rising gas prices, since Russia's invasion of Ukraine in 2022.
It comes just days after British Steel announced plans to end steel-making in Scunthorpe with the closure of its two blast furnaces.
The move, described as 'devastating' by unions, will leave the UK as the only G7 country unable to make steel domestically from scratch, and is expected to result in the loss of up to 2,700 jobs.
EGF made a loss of £3.47m in 2023, according to its most recent financial accounts, compared with a profit of £7.4m in 2022.
The company said in its accounts that its profits had fallen because of 'lower customer demand resulting from competition from Chinese imports' as well as other factors including higher costs for raw materials.
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NEG said it would consider various options during its strategic review of the fibreglass factory, including selling the businessor 'forming strategic partnerships'.
NEG said that if it was not successful in finding a partner or a buyer, it would consider potentially closing down EGF's operations.
The Wigan site was bought by NEG in 2016, and two years later received a £15m investment from its parent company, according to local news reports.
Wigan is NEG's only manufacturing site in Europe. It has operations across its home country of Japan as well as the US and elsewhere in Asia.

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