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Guardian invests in India, Saudia Arabia

Post Time:Nov 12,2013Classify:Industry NewsView:94

This past week marked two international investments for Guardian Industries of Auburn Hills, Mich. The company received clearance from India’s Ministry of Finance to invest $67 million in a wholly owned glass manufacturing company in India, catering to automotive and construction industries, according to a Dec. 14 Financial Times article. Guardian also holds a 50 percent stake in India’s Gujarat Guardian Ltd., a float glass manufacturer in which India’s Modi Rubber holds 21.24 percent, according to the article. The company also jointly loaned $100 million to Saudia Arabia’s Guardian Zoujaj International Float Glass, Guardian RAK. The seven-year loan facility agreement is between Guardian Industries, The National Company for Glass Investments, Zoujaj, of Saudi Arabia and Zamil Group also of Saudi Arabia, according to a Dec. 18 gulfnews.com article. Guardian RAK will use the loan to part finance its upcoming 700-ton-per-day float glass manufacturing unit in Ras Al Khaimah, United Arab Emirates, according to the article.Share this article:

Source: http://www.glassmagazine.com/news-item/commercial/guardian-invests-india-saudia-arabiaAuthor:

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