Saint-Gobain Glass has committed INR 5 billion worth of investments to its Indian operations over the next 3-4 years for capital expenditure projects.
The investments are destined for the float glass…
Saint-Gobain Glass has committed INR 5 billion worth of investments to its Indian operations over the next 3-4 years for capital expenditure projects. The investments are destined for the float glass facility in Tamil Nadu, which will increase auto glass production to fulfill strong demand. Anand Mahajan, country head, Saint-Gobain Glass, said the company is also looking out for acquisitions in the domestic market to increase its market share, although no deal is imminent. The company has four group companies operating in India, though there are no plans to integrate these business units. “All these units have different business models and products and world over Saint-Gobain manages different business as separate strategic business units,” Mr Mahajan said. He added that the French parent company is keen to introduce new products on the Indian market, and is currently evaluating opportunities on the building materials market. He said there are no plans to delist Saint Gobain Sekurit India, one of its group companies. “At this moment, it is not one of the priorities for the company, though in due course of time, the management will take a view on this subject,” Mr Mahajan said. Saint-Gobain has 61% stake in the company, while institutional and public holdings hold around 14%.