Glass plant in Ohio resumes operation after federal raid, Fuyao Glass says

Chinese auto glass supplier Fuyao Glass Industry Group Co. said its U.S. subsidiary returned to normal operation on July 26 after a raid by federal agencies the same day. 

The U.S. federal agencies and local law enforcement support personnel carried out the raid at Fuyao Glass America Inc. in Moraine, Ohio, from 10 a.m. to 5 p.m. on July 26, Fuyao Glass said in July 28 in filings on the stock exchanges of Shanghai and Hong Kong.

The target of the probe is a third-party labor service company, not its subsidiary, the Chinese company noted.

The raid led its subsidiary to temporarily halt part of its operations. “After the raid concluded, normal operations had been resumed on the same day,” Fuyao Glass said. 

“Currently, production and business operations are all normal,” it added.

The supplier didn't give specifics on why it was raided.

Fuyao Glass America has plants in Ohio and Michigan that produce glass for vehicles. It also has a factory in Illinois that makes float glass for other industries.

On Aug. 8, Fuyao Glass disclosed its financial report for the first half of 2024. 

According to the report, its U.S. subsidiary’s net profit in the period soared 104 percent year over year to 387 million yuan ($54 million), with operating revenue surging 32 percent to 3.4 billion yuan. 

Globally, the Chinese company’s net profit rose 23 percent to 3.5 billion yuan with its operating revenue increasing 22 percent to 18.3 billion yuan.