Following this transaction, which has received the agreement of the Japanese competition authorities, Saint-Gobain now owns 87.3% of MAG's shareholders' equity.
MAG, Japan's leading glass wool manufacturer, had been managed jointly by Saint-Gobain and Taiheiyo Cement Corporation since June 2008.
Japan is one of the world's major habitat markets, driven by a growing concern of Government and consumers for environment protection (reduction of CO2), energy efficiency and comfort. A greater emphasis on insulation results of new building standards becoming effective year after year.
With this acquisition, Saint-Gobain intends to play a major role in the Japanese construction products industry and to bring its best contribution to a better environment.
Saint-Gobain Reinforces Its Positions In Japan
Date: 14 April 2010
Source: Saint-Gobain
Saint-Gobain has reinforced its position in Insulation in Japan through the acquisition of the 43.7% stake owned by the Japanese group Taiheiyo Cement Corporation in the company MAG.