Saint-Gobain raises stake in Hankuk Glass Industries

In accordance with agreements finalized on 6 April 2005, France“s Saint-Gobain has increased its share of voting rights in Hankuk Glass Industries (HGI) from 46% to 80.47%, taking control of the Sout…

In accordance with agreements finalized on 6 April 2005, France“s Saint-Gobain has increased its share of voting rights in Hankuk Glass Industries (HGI) from 46% to 80.47%, taking control of the South Korean firm. Hankuk Glass Industries manufactures and processes glass for the architectural and automotive markets and is also present in certain specialty glass segments. In 2004, the company achieved a turnover of KRW 323 billion (or around EUR 227 million) with a workforce of 774 people. HGI is present mainly in Korea, China and Japan. Following on from the long-established partnership existing between Saint-Gobain and Hankuk Glass Industries in the flat glass sector, essentially in Korea and China, Saint-Gobain says the operation serves to strengthen its positions in Asia and is consistent with the group strategy of development in emerging countries.