VALLEY FORGE, Penn. (October 1, 2003) – Saint-Gobain Reinforcement
and Owens Corning will locate their previously announced joint glass
reinforcement facility in Xicohténcatl, Tlaxcala, Mexico, adjacent
to Saint-Gobain Vetrotex America's facility. This unit will manufacture
the highest quality products for the composites market. Production
and delivery of product is planned for late 2004.
This facility will produce roving products to be sold across a broad
range of end-user markets. “Locating this glass reinforcement
facility in Mexico enables us to cost-effectively meet the needs of
our customers in the Americas,” said Dick Lantz, President, Owens
Corning Composite Solutions. Roberto Caliari, President of the Reinforcement
Branch of Saint-Gobain, confirmed: “This facility will allow
us to supply our customers with high quality glass reinforcements
on a cost-effective basis. We will get the benefit of our industrial
experience and of a highly skilled workforce.”
The roving products produced by this 50/50 joint venture will be sold
in equal shares through Saint-Gobain Vetrotex and Owens Corning international
sales networks.
The transactions have been approved by the appropriate legal and regulatory
agencies.
Saint-Gobain operates as a manufacturer and provider of high technology
materials and associated services. Saint-Gobain is one of the world's
hundred leading industrial corporations. The Group had worldwide sales
of 30.3 billion € in 2002. Owens Corning is a world leader in
building materials systems and composites solutions. Founded in 1938,
the company had sales of $4.9 billion in 2002. |
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