Guardian Stretches Out Overseas

Forty percent of Auburn Hillsbased Guardian Industries' revenue now comes from overseas, company executives have confirmed.

The business, owned by Bloomfield Hills billionaire William Davidson, is the bedrock of his empire, and has kept financially healthy by diversifying.

Ralph Gerson, Guardian executive vice president, told The Oakland Press this week the company is expanding overseas and 40 percent of its revenue and 50 percent of its assets are now in overseas markets.

Guardian is closely held and doesn't disclose financial information but its annual revenue is estimated to be over $5 billion. Guardian is the foundation of the family fortune of Davidson, who also owns the Detroit Pistons. Its headquarters is down the street from The Palace of Auburn Hills.

Gerson said Guardian, founded in Detroit in 1932, first ventured abroad in 1981 by opening a plant in Luxembourg. It now has more than 15 percent of the European market for flat glass used in construction, he said as he opened a discussion of the benefits of trade and investment at a meeting of the Detroit Economic Club in Birmingham earlier this week.

Guardian's growth has benefi t- ed from the overseas expansion, he said. James Hamilton, director of the Center of Economic Relations at Johns Hopkins University, said at the same meeting that the economic relationship between the United States and Europe is the largest and most important in the world. "There's more European investment in the state of Michigan than all of U.S. investment in China and Japan put together," Hamilton said.

Read the entire news on the source link below.

600450 Guardian Stretches Out Overseas
Date: 16 March 2007

See more news about:

See more from these topics:

Others also read

Improve safety, aesthetics and productivity with new Guardian Deco HT™ lacquered glass
At GlassBuild America attendees will find high performance glass products such as Guardian UltraClear™ low-iron glass.
Guardian Industries Corp. recently introduced a video profiling the Guardian SunGuard® glass application at the iconic Eli and Edythe Broad Art Museum at Michigan State University.
Guardian Glass has introduced the Performance Calculator, a digital tool to help customers make the best choice for their glazing.
A unique technology has been developed that improves the quality and reduces the time required for edge enamelling of Guardian heat treatable sputtered coated glass.
Guardian Glass has completed the transition of all clear float and fabricated glass production to Guardian ExtraClear® float glass in continental Europe.

Add new comment