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6 Jun 2008 08:05
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SAINT-GOBAIN'SΒ
CONSTRUCTION PRODUCTS SECTORΒ
MOVES INTOΒ JAPAN
Paris, June 6, 2008
Saint-Gobain's Construction Products sector has gained a foothold on the Japanese insulation market through its acquisition of the 43.64% stake held by Nippon Sheet Glass (NSG) in MAG. The acquisition was made for an amount of 1,750Β millionΒ yen (β¬11 million). Following the acquisition, MAG will be jointly owned by Japanese group Taiheiyo Cement and Saint-Gobain, each with a stake of 43.64%, and will beΒ operationally managedΒ by Saint-Gobain.Β
MAG isΒ the firstΒ glass wool manufacturerΒ inΒ Japan,Β withΒ consolidatedΒ sales of 20,219Β millionΒ yen (β¬125.4Β million) in 2007 and about 440 employees. It operates four plants located inΒ IbarakiΒ (Akeno and Tsuchiura),Β GifuΒ (Tarui) andΒ HokkaidoΒ (Sunagawa).Β The company has been an Isover licensee for many years, and has been using the Saint-GobainΒ TEL processΒ since 1974.
JapanΒ is one of the world's leading construction products markets: the building industry employs 9% of the country's active population, and 1.2 million new dwellings are built each year. New building standards with greater emphasis on insulation should become effective this year. They aim to address the growing concern of government and consumers for environmental protection (reduction of CO2), energy efficiency and comfort.Β
With this acquisition, the Construction Products sector is ideally placed to build a strong position on the Japanese market and become a key player in the Japanese construction industry.
Saint-Gobain inΒ Japan
Saint-Gobain K.K. was established in 1986 as Saint-Gobain Group's wholly-owned Japanese subsidiary. Saint-Gobain K.K. has about 260 employees, and overΒ 430Β people in total work forΒ Japan-basedΒ companies in which Saint-Gobain Group has a shareholding of 50% or more. Saint-Gobain acquired Norton Group in 1990,Β which had been present inΒ JapanΒ since 1917. Along with Saint-Gobain K.K.,Β threeΒ joint-venture companiesΒ manufacture and/or distribute Saint-Gobain products inΒ Japan, which include ceramics,Β crystals,Β plastics, refractories, abrasivesΒ andΒ flat glass for automotive, building or solar applications.
The first joint ventures formed byΒ Saint-GobainΒ with Japanese business partners go back as far as 1974, while the most recent initiatives involveΒ NipponΒ Electric Glass and Central Glass in 2003.
Saint-Gobain K.K.'s head office is 3-7 Kojimachi, Chiyoda-ku,Β Tokyo.
For more information, seeΒ www.saint-gobain.co.jpΒ
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