French firm Saint-Gobain“s ceramic branch has finalised the sale of its subsidiary GPR (manufacturer of electro-fused fireproof elements for glass furnaces and part of Saint-Gobain“s US Carborundum…
French firm Saint-Gobain“s ceramic branch has finalised the sale of its subsidiary GPR (manufacturer of electro-fused fireproof elements for glass furnaces and part of Saint-Gobain“s US Carborundum Corporation operation) to the British group Cookson for US$ 45 million. GRP had sales in 1995 of US$ 53m and net assets of US$ 28.5m at February last year. As part of its strategy of building an Asian presence, Saint-Gobain has also finalised plans for the construction of a glass plant in India. The plant will have capacity of 150,000 tonnes a year and will cost US$ 128 million. Production is expected to start in the first half of 1998.