23 April 1998: Vetrotex, the composites business group of Europe“s largest glass manufacturer Saint-Gobain, has disclosed its intention to work towards expanding its business in Asia.
Saint-Gobain …
23 April 1998: Vetrotex, the composites business group of Europe“s largest glass manufacturer Saint-Gobain, has disclosed its intention to work towards expanding its business in Asia. Saint-Gobain said it will continue to increase its capacity in glass fibre, which is already made in two locations in Asia. Upon completion of a manufacturing base, more than half of whose production will be exported to destinations outside the region, the company“s market share will rise to 15% by 2000, in the course of a 50% expansion of the scale of the business, said Roberto Caliari, President of the Reinforcement Division of Saint-Gobain. The company is expected to locate a technical service point in Tokyo this autumn. Saint-Gobain reported sales of US$18.4 billion, a rise of 17% over the previous year, and net profit of FFr 65 million, representing an increase of 30%. Vetrotex reported 1997 turnover at US$ 900 million an 8% increase compared with 1996.