France's Saint-Gobain Investment in Changzhou Exceeds US$ 130 Million

As a global Fortune 500 company, France-based Saint-Gobain has quickened its deployment pace in China in the hope of riding the surging spree of China's robust economy.

On April 7th, senior corporate heads, including Raimund Heinl, president of Saint-Gobain TS (technical materials), Emmanuelle Picard, general manager for the Business Department of Grinding Wheel Mesh and for Strategic Development of Saint-Gobain TS, Eric Daniel, global technical supervisor for Saint-Gobain TS, and Fei Ming, general manager for the Asia-Pacific area of Saint Gobain TS, visited the national new & high-tech zone in Changzhou, Jiangsu Province, where Saint-Gobain has injected a total investment of US$ 131.48 million, setting up three enterprises.

Yang Pingping and Dai Xiaowen, the director and the deputy director of the managing commission of Changzhou National High-tech District, met with the group of senior corporate heads. Yang Pingping said that the local government of Changzhou city will exert all its efforts to help the enterprises in Changzhou under the investment of Saint-Gobain develop a bigger and stronger presence in the new materials industry.

"Changzhou is a city full of vigor, where all the enterprises set up by Saint-Gobain gain a rapid development at present. This is inseparable from the support of the governments at both city and district levels. We are also very glad to further our business development in Changzhou," said Raimund Heinl. Since 2004, Saint-Gobain has invested US$ 131.48 million in the Changzhou New & High-tech Zone, setting up, one after another, Saint-Gobain Technical Fabrics (Changzhou) Co., Ltd, Saint-Gobain Gypsum Building Materials (Changzhou) Co., Ltd., and Vetrotex Composite Material (Changzhou) Co., Ltd., with an accumulated registered capital of US$ 55.05 million.

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600450 France's Saint-Gobain Investment in Changzhou Exceeds US$ 130 Million
Date: 11 April 2008
Source: PRNewswire

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