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| Saint-Gobain’s acquires stake in Japanese glass wool manufacturer Saint-Gobain's Construction Products sector has gained a foothold on the Japanese insulation market through its acquisition of the 43.64% stake held by Nippon Sheet Glass (NSG) in MAG. The acquisition was made for an amount of 1,750 million yen (€11 million). Following the acquisition, MAG will be jointly owned by Japanese group Taiheiyo Cement and Saint-Gobain, each with a stake of 43.64%, and will be operationally managed by Saint-Gobain. MAG is the first glass wool manufacturer in Japan, with consolidated sales of 20,219 million yen (€125.4 million) in 2007 and about 440 employees. It operates four plants located in Ibaraki (Akeno and Tsuchiura), Gifu (Tarui) and Hokkaido (Sunagawa). The company has been an Isover licensee for many years, and has been using the Saint-Gobain TEL process since 1974. write your comments about the article :: © 2008 Construction News :: home page |