Saint Gobain Or Regulatory News (COD)

26 Nov 2007 17:12

Compagnie de Saint-Gobain26 November 2007 November 26, 2007 Saint-Gobain's Flat Glass Sector to build a float glass line in Egypt In view of the strong growth trends in Middle Eastern markets, Saint-Gobain'sFlat Glass Sector has decided to expand its presence in the region with theconstruction of a float glass production line in Egypt. This facility is to be operated in a joint-venture that has been founded withMMID (El Mansour and El Maghraby Investment and Development Company), a majorEgyptian Group with activities including Real estate and Industry. The float line will be built in Ain El Sokhna, located 120 kilometers east ofCairo and 40 kilometers south of Suez, along the Red Sea coast. Output from the new facility will be sold on the Egyptian market and alsoexported to the Middle East and Africa. The overall cost of the investment will be approximately Euros 120 million.Construction is due to start in 2008 and production in 2009. This operation constitutes a further step in the Group's growth strategy inemerging countries, where its Flat Glass Sector now generates some 35% of itsturnover. Saint-Gobain's Flat Glass Sector in the Middle East Ranked number 1 in Europe and number 2 worldwide, Saint-Gobain's Flat GlassSector is present in 39 countries. It has had a network of commercial agencies(SGG Exprover) in Egypt and the Middle East since the beginning of the 1980s. Italso enjoys a presence through Autover, specialized in the glass replacement forthe automotive market. Investor Relations Department Florence Triou-Teixeira Tel.: +33 1 47 62 45 19 Alexandre Etuy Tel.: +33 1 47 62 37 15 Vivien Dardel Tel.: +33 1 47 62 44 29 Fax: +33 1 47 62 50 62 This information is provided by RNS The company news service from the London Stock Exchange