Dow Jones reported that French building materials maker Compagnie de Saint-Gobain SA said Monday it will open a float glass production line in Egypt, to build on the strong growth trends developing in Middle Eastern markets. The plant, which the company estimates will cost approximately 120 million euros, is due to start in 2008 with production expected in 2009. The production unit will be operated in a joint-venture that has been founded with El Mansour and El Maghraby Investment and Development Company – a major Egyptian Group with activities including real estate and industry, the company said in a statement. The facility will be built in Ain El Sokhna, located 120 kilometers east of Cairo and 40 km south of Suez, along the Red Sea coast. Output from the new facility will be sold on the Egyptian market and also exported to the Middle East and Africa. This operation constitutes a further step in the group’s growth strategy in emerging countries, where its flat-glass output now generates some 35 percent of its turnover, Saint-Gobain said in a statement.
Saint-Gobain to build float glass production unit in Egypt
