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Saint-Gobain Gets EU Green Light For Egypt Glass Venture

Post Time:Dec 18,2009Classify:Company NewsView:324

PARIS -(Dow Jones)- Glass and construction-materials group Cie de Saint-Gobain (SGO.FR) said Wednesday that Turkey's Sisecam and Mansour-Maghraby Investment and Development Co (MMID.CI) of Egypt have been given the go-ahead by the European Union Commission to take a minority stake in Saint-Gobain's project to build a float glass plant in Egypt.

MAIN FACTS:

- Production is set to begin in the second quarter of 2010 with daily output of 900 tons of glass.

- The plant, located 192 miles east of Cairo, will export to North Africa and the Middle East as well as producing for domestic consumption.

- By Paris Bureau, Dow Jones Newswires; +331-4017-1740;

Source: www.smartmoney.comAuthor: shangyi

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