Saint-Gobain to launch first industrial investment in Russia

Saint-Gobain Group's Insulation division has decided to invest in glass wool manufacturing in Russia to support its strong sales growth in this region.

On the 10th of March 2002 Saint-Gobain Isover Yegorievsk, a Russian subsidiary of Saint-Gobain Isover Oy Finland, has signed a contract with a former local concrete element factory for the acquisition of the plant buildings in Yegorievsk city (close to Moscow).The acquired site will now be rebuilt as a modern glass wool plant. The investment and the renovation of the buildings start immediately. The site is big enough for several insulation manufacturing lines and in the first phase we will build one line with a capacity of 20.000 tons . The plant is scheduled to start production of insulation wool in the summer of 2003 and will directly employ over 100 persons in the first phase.The total cost of the investment is estimated to be about 30 M_. euros. The new Russian insulation plant will be using Saint-Gobain TEL technology and the plant is built based on modern environmental friendly technologies like electric melting.The plant will be built by an international project team.

The reason behind this investment is the strong growth of ISOVER brand insulation sales in Russia and other CIS (Community of Independant States) markets like Ukraine, Belarus and Central Asia. Saint-Gobain Isover Oy started sales operations in this territory already eight years ago and the business has been growing strongly in recent years. ISOVER is the second largest insulation brand in Russia today and the largest in the Baltics. There are today 60 people working in Isover sales companies in Russia and the total sales force in this region and the Baltics is over 100 persons.

This glass wool plant investment is the first industrial investment of the Saint-Gobain Group in Russia.

600450 Saint-Gobain to launch first industrial investment in Russia
Date: 25 March 2002
Source: Saint Gobain

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