Saint-Gobain and Owens Corning to build joint Glass Reinforcement facility in Mexico

Date: 1 September 2003
Source: Saint Gobain

Date: 1 September 2003

Saint-Gobain Reinforcement and Owens Corning announced today that they will locate their previously announced joint glass reinforcement facility in Xicohténcatl, Tlaxcala, Mexico, adjacent to Saint-Gobain Vetrotex America's facility.

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.
600450 Saint-Gobain and Owens Corning to build joint Glass Reinforcement facility in Mexico glassonweb.com

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