Nippon Sheet Glass and Saint-Gobain have entered into a joint venture agreement in the reinforcements business

Nippon Sheet Glass (“NSG”) and Saint-Gobain have signed an agreement establishing a new joint venture company, NSG Vetrotex KK.

The new company, based in Tsu, near Nagoya (Japan), will achieve more efficient and cost-effective manufacturing, providing a wider range of products and services to drive the development of the Japanese fiberglass market. It will draw upon the combined strengths of NSG and SGVI in high-technology manufacturing, research and development, resulting in expansion and higher profitability.

The NSG teams in the Reinforcements business will join the newly-formed company and will be joined by the Saint-Gobain Vetrotex teams in Japan.

NSG has until today remained independent and had a share of the reinforcements market that was limited by its production capacity. Through this joint venture NSG seeks to expand its business in Japan by benefiting from synergies with Saint-Gobain Vetrotex, which has worldwide supply capabilities with more than 20 production sites, of which 6 are located in Asia. Saint-Gobain Vetrotex continues to implement its Asian development strategy, in which cooperation with such a major and reputed player as NSG is a key asset. Both Groups consider this alliance as a breakthrough, which will boost their competitiveness in Japan.

The Saint-Gobain Group, worldwide leader in Reinforcements, will hold 60% of NSG Vetrotex KK.

600450 Nippon Sheet Glass and Saint-Gobain have entered into a joint venture agreement in the reinforcements business
Date: 26 August 2002
Source: Saint Gobain

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