Saint-Gobain Ceramics & Plastics, Toshiba Ceramics and Nippon Electric Glass formally agreed 31 March 2003 to set up a new capital structure for Toshiba Monofrax, previously a 49/51 joint-venture betw…
Saint-Gobain Ceramics & Plastics, Toshiba Ceramics and Nippon Electric Glass formally agreed 31 March 2003 to set up a new capital structure for Toshiba Monofrax, previously a 49/51 joint-venture between Saint-Gobain and Toshiba Ceramics in Japan. Under the agreement, the 51% stake held by Toshiba Ceramics in the joint-venture was sold to NEG for 40% and to Saint-Gobain for 11%. As a result, Saint-Gobain“s share in Toshiba Monofrax now totals 60%. The company name has been changed to “SAINT-GOBAIN TM K.K.“ The company is dedicated to high performance refractories for the Japanese market and more generally for the Asian market. Its 2002 sales amounted to JPY 6 653 million (EUR 57 million). As a result of the deal, Saint-Gobain Group has further extended its presence in Asia, with Japan as the Group“s top market in the region.