|By PR Newswire||
|September 5, 2014 03:41 AM EDT||
PARIS, September 5, 2014 /PRNewswire/ --
Saint-Gobain and Central Glass Co., Ltd. have just signed an agreement to create a joint venture in Indonesia that will specialize in automotive glass. Each group will have a 50-percent stake in the new company. A plant will be built east of Jakarta to meet the Indonesian automotive market's rapid growth. The new facility is scheduled to come on stream in 2016 and will have an annual production capacity of 500,000 windshields.
The agreement is subject to the approval of the anti-trust authorities.
Saint-Gobain and Central Glass have been working jointly in the field of automotive glass since 2002 in Japan, and 2012 in China.
The investment in Indonesia marks a milestone for Saint-Gobain's growth strategy in Asia and emerging countries.
Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building and high-performance materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2013 sales of €42 billion, Saint-Gobain operates in 64 countries and has nearly 190,000 employees. For more information about Saint-Gobain, please visit http://www.saint-gobain.com or download the new "Saint-Gobain Shareholder" application for tablet and smartphone.
Sophie Chevallon Susanne Trabitzsch
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