Re Agreement

2 Apr 2009 07:57



April 2, 2009

Saint-Gobain and Şişecam sign an agreement to jointly develop their flat glass activities in Egypt and Russia

The Saint-Gobain and Şişecam groups have agreed to jointly develop their flat glass (float) activities in Egypt and Russia, by carrying out two projects together. 

Şişecam will take a minority stake in Saint-Gobain Glass's investment project to build its first float glass production line in Egypt, alongside Saint-Gobain's local partner, MMID. 

In addition, a joint venture will be set up between Saint-Gobain and Şişecam for the construction of a float line in Russia, in the Republic of Tatarstan. A feasibility study for this investment was recently announced by Trakya Cam, a company of the Şişecam Group. Output from this plant will be sold in the building and automotive markets.