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SAINT-GOBAIN CERAMICS & PLASTICS TO TAKE CONTROL
OF TOSHIBA MONOFRAX
Saint-Gobain Ceramics & Plastics, Toshiba Ceramics and Nippon Electric Glass (“NEG”) have signed today an agreement setting up a new capital structure for Toshiba Monofrax, a formerly 49/51 joint-venture between Saint-Gobain and Toshiba Ceramics in Japan.
Under this agreement, Toshiba Ceramics sold today its 51% stake in the joint-venture to NEG for 40% and to Saint-Gobain for 11%. As a result, Saint-Gobain’s share in Toshiba Monofrax now amounts to 60%.
The company name has been changed to ‘SAINT-GOBAIN TM K.K’.
The company is dedicated to high performance refractories for the Japanese market and more generally for the Asian market. Its 2002 sales amounted to 6 653 M JPY (57 M euro).
Through this transaction, the Saint-Gobain Group further extends its presence in Asia, Japan being the Group’s first market in the region.
March 31th, 2003. |
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