Saint-Gobain Vitrage Strengthens Its Presence In China With the Acquisition of a New Float Line

Date: 10 October 2003
Source: Yahoo

Date: 10 October 2003

Saint-Gobain's Flat Glass Division (Saint-Gobain Vitrage) and its Korean partner Hanglas proceeded on October 8, 2003 to the purchase of a float line located in Qingdao (Shandong province) in North Eastern China.

This operation was carried out through a joint venture company held in majority by Saint-Gobain Vitrage and Hanglas, and Luoyang the current owner of the float line holding 10%.Qingdao's geographic position is very favourable for the supply of the North-Eastern Chinese market -- including Beijing -- as well as for exports.Qingdao is China's third largest port and numerous daily connections with Korea and Japan ensure a service of good quality towards these countries.This operation is an important landmark in the partnership between Saint-Gobain Vitrage and Hanglas associated for their mutual development in North-East Asia.It strengthens both partners' presence in China, the largest market in the world for the production of flat glass.

In Nanjing, Saint-Gobain Vitrage and Hanglas jointly own a float line, a patterned glass line and are currently building a coating line the start up of which is forecasted for the end of this year.

With this new operation in China, Saint-Gobain Vitrage and Hanglas will strengthen their position as leaders in the production of high quality glass intended for the building and automotive processing markets.

600450 Saint-Gobain Vitrage Strengthens Its Presence In China With the Acquisition of a New Float Line glassonweb.com

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