French Saint-Gobain to invest EUR 60 mln in Poland, double Polish units' revenue by 2008

French industrial giant Saint-Gobain said it plans to invest EUR 60 mln in Poland and double the revenue generated by its Polish units to EUR 760 mln over the next five years, Jean Laronze, head of the company's Polish operations, told reporters Thursday.

The French company will invest EUR 50 mln in its Polish flat-glass production operations and EUR 10 mln into abrasive operations by 2008, he said. Revenue from its Polish operations totaled EUR 380 mln in 2003.

"The increase of revenue is our main target," Laronze said. "Our global policy is EUR 1 of revenue per each euro of investment."

Flat-glass operations in Poland generated EUR 165 mln of revenue for the French company in 2003, construction-materials distribution generated EUR 77 mln, and other activities generated EUR 102 mln of revenue.

Saint-Gobain said it plans to grow its Polish operations both organically and through takeovers, which could include glass-bottle makers and construction-materials distributors.

Saint-Gobain owns 17 companies and 54 plants in Poland, where it is the country's largest flat-glass producer. Since 1994, it has invested EUR 110 mln in the country. The French company currently employs 3,600 people in Poland.

600450 French Saint-Gobain to invest EUR 60 mln in Poland, double Polish units' revenue by 2008 glassonweb.com
Date: 26 April 2004
Source: Interfax.com

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