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A NEW JOINT VENTURE IN CHINA FOR THE REINFORCEMENTS DIVISION: SAINT-GOBAIN TECHNICAL FABRICS HONGFA
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On February 18, 2004, the Reinforcements Division of Saint-Gobain signed an 80/20 joint venture agreement with the Chinese company HongFa Co., concerning the formation of Saint-Gobain Technical Fabrics HongFa (Changzhou), located in Changzhou in the province of Jiangsu.
HongFa Co. manufactures and markets high-quality fabrics for the Composites and Geotextile markets. The joint-venture – leader in these twin markets in China – will benefit from Hongfa’s strengths, including deep knowledge of the Chinese market, a solid sales and marketing structure, and cutting-edge technological skills. These assets will complement well with Saint-Gobain Technical Fabrics’ global reach and innovation capabilities.
Following the start-up of the Hangzhou HSGV new furnace and the launch of extension work on the DouDian BSGV furnace (in Beijing) in 2003, Saint-Gobain Technical Fabrics HongFa (Changzhou) represents a major step towards broadening the Reinforcements Division’s operating presence in Asia. This new company will be ideally placed to offer clients superior quality Technical Fabrics products at competitive prices.
February 19, 2004 |
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