Fuyao Glass America Inc. Announces $7 Million Gift To Support University Of Dayton China Institute
DAYTON, Ohio, Jan. 9, 2015 /PRNewswire-USNewswire/ -- The University of Dayton and Fuyao Glass America Inc. announced on Feb. 9 the company will make a $7 million gift to support the University's China Institute in Suzhou Industrial Park.
University President Daniel J. Curran, Fuyao [Foo´ yow] Glass Group Chairman Dewang Cao [Duh wan Chow] and Fuyao Glass America Inc. President John Gauthier were part of the announcement in an on-campus ceremony just a few miles from where Fuyao is transforming a former General Motors assembly into a state-of-the-art automotive glass manufacturing facility.
Fuyao became the biggest Chinese investor in Ohio and the largest Chinese auto parts enterprise in the U.S. last year when the manufacturer launched a $250 million redevelopment of the shuttered plant. It expects to hire a workforce of about 1,000 and begin production this summer.
"We are immensely grateful to Chairman Cao and pleased to enter into this relationship, which solidifies the University of Dayton's presence in China and our growing international reputation," Curran said. "With this gift, we can continue to expand our academic, research and development, and innovation programs."
Cao said education and fostering understanding are top priorities for him.
"The ultimate goal of our endeavors is to achieve harmony among people," Cao said. "The University of Dayton China Institute has the potential to become a center of international goodwill, where people from all over the world come to learn and work together. That is important and valuable work, and we would like to play a part in making it happen."
The University and Fuyao will collaborate in research and development, technology and management, developing new technology and improving management effectiveness. The gift will go toward purchase of the 68,000-square-foot building that has housed the institute since it opened in 2012.
Cao is known as one of the most influential philanthropists in China, focusing his 6 billion-RMB (about $1 billion) gifts on education, disaster relief, poverty alleviation and traditional culture heritage. Cao was named Ernst and Young's 2009 Entrepreneur of the Year, for his spirit of innovation and for his commitment to social responsibility.
Perennially at the top of China's "most admired company" list, the multinational firm founded by Cao in 1987 has grown into China's largest manufacturer of auto glass, supplying glass for the world's leading automotive companies such as GM, Chrysler, Toyota, Honda, Hyundai, BMW and Mercedes.
An American Cultural Center opened at the University of Dayton China Institute in December, one of only 20 such centers funded by the U.S. State Department in China and the first to be established outside the campus of a Chinese university.
Visit the University of Dayton China Institute.
About Fuyao Glass America Inc.
Fuyao Glass America Inc. was established on March 17, 2014. It is a wholly owned subsidiary of Fuyao Group, headquartered in China, with a total investment of $250 million. On May 15, 2014, Fuyao purchased more than half of the former GM Assembly plant in Moraine, Ohio, and is currently renovating the 1.4 million-square-foot building to meet its production needs. It plans to start operations by June 2015. By the end of 2016, it will have the capacity for producing 4 million pieces of glass for the After Market Replacement Glass (ARG) market and 4 million car sets of glass for the Original Equipment Manufacture (OEM) market. This plant will have the most advanced equipment and automated production lines and will become the new role model of the U.S. automotive glass industry. Visit http://www.fuyaogroup.com/
About the University of Dayton
Founded in 1850, the University of Dayton is one of the top-10 Catholic universities in the U.S. and the largest private university in Ohio. The University of Dayton China Institute was established in 2012 in Suzhou Industrial Park, and offers academic programs as well as training, research and development for companies located in SIP. Visit http://www.udayton.edu.
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SOURCE University of Dayton
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