Saint-Gobain Reinforces its Position in Japan

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Saint-Gobain

Mar 29, 2010, 12:42 ET

COURBEVOIE, France, March 29, 2010 /PRNewswire-FirstCall/ -- Saint-Gobain has reinforced its position in Insulation in Japan through the acquisition of the 43.7% stake owned by the Japanese group Taiheiyo Cement Corporation in the company MAG. Following this transaction, which has received the agreement of the Japanese competition authorities, Saint-Gobain now owns 87.3% of MAG's shareholders' equity..

MAG, Japan's leading glass wool manufacturer, had been managed jointly by Saint-Gobain and Taiheiyo Cement Corporation since June 2008.

Japan is one of the world's major habitat markets, driven by a growing concern of Government and consumers for environment protection (reduction of CO2), energy efficiency and comfort. A greater emphasis on insulation results of new building standards becoming effective year after year

With this acquisition, Saint-Gobain intends to play a major role in the Japanese construction products industry and to bring its best contribution to a better environment.

    Analyst & Investor relations
    Florence Triou-Teixeira +33-1-47-62-45-19
    Etienne Humbert +33-1-47-62-30-49
    Vivien Dardel +33-1-47-62-44-29

    Press relations
    Sophie Chevallon +33-1-47-62-30-48

SOURCE Saint-Gobain

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