This unit will manufacture the highest quality products for the composites market. Construction work will begin in early August.
This facility will produce roving products to be sold across a broad range of end-user markets. "Locating this glass reinforcement facility in Mexico enables us to most cost-effectively meet the needs of our customers in the Americas" said Dick Lantz, President, Owens Corning Composite Solutions. Roberto Caliari, President of the Reinforcement Branch of Saint-Gobain, confirmed : "this facility will allow us to supply our customers with high quality glass reinforcements on a cost-effective basis. We will get on the site the benefit of our industrial experience and of a highly skilled workforce".
The roving products produced by this 50/50 joint venture will be sold in equal shares through Saint-Gobain Vetrotex and Owens Corning international sales networks. Production and delivery of product is planned for late 2004.
On a global scale, the composites market is growing at 5% annually.
The transactions have been approved by the appropriate legal and regulatory agencies.
Saint-Gobain operates as a manufacturer and provider of high technology materials and associated services. Saint-Gobain is one of the world's hundred leading industrial corporation. The Group had worldwide sales of 30.3 billion in 2002.
Owens Corning is a world leader in building materials systems and composites solutions. Founded in 1938, the company had sales of $4.9 billion in 2002.