Trakya Cam Sanayi AS announced on 27 July 2009 that it has decided to sign a joint venture agreement with French construction materials group Saint-Gobain SA.
In a statement to the Istanbul Stock Exc…
Trakya Cam Sanayi AS announced on 27 July 2009 that it has decided to sign a joint venture agreement with French construction materials group Saint-Gobain SA. In a statement to the Istanbul Stock Exchange, the Turkish glass manufacturer said it will take a 16% stake and invest approximately USD 14.4 million in a project that the French company will carry out in Egypt. Saint-Gobain announced previously in April 2009 that it had it signed an agreement with the majority shareholder of Trakya Cam, Turkish glass manufacturing conglomerate Turkiye Sise Ve Cam Fabrikalari AS, to jointly develop flat glass activities in Russia and Egypt. According to Saint-Gobain, Sisecam will have a minority stake in Saint-Gobain“s investment project to build its first float glass production line in Egypt.