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SAINT-GOBAIN TAKES CONTROL OF HANKUK GLASS INDUSTRIES (HGI) OF KOREA
In accordance with agreements finalized on April 6, 2005, Saint-Gobain has increased its share of voting rights in Hankuk Glass Industries (HGI) from 46% to 80.47%, and thus gained control of HGI.
Hankuk Glass Industries manufactures and processes glass for the architectural and automotive markets and is also present in certain specialty glass segments.
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In 2004, the company achieved a turnover of 323 billion wons (or around €227 million) with a workforce of 774 people.
HGI is mainly present in Korea, China and Japan.
Following on from the long-established partnership existing between Saint-Gobain and Hankuk Glass Industries in the Flat Glass sector – essentially in Korea and China –, this operation serves to strengthen Saint-Gobain’s positions in Asia and is consistent with the Group strategy of development in emerging countries.
Employing around 37,000 people, Saint-Gobain’s Flat Glass Sector (Saint-Gobain Vitrage) generated sales close to €4.4 billion in 2004. Saint-Gobain Vitrage is currently present in 39 countries and ranks number two worldwide and number one in Europe in the flat glass market.
Saint-Gobain Vitrage is organized according to the markets it serves. Its businesses include: Saint-Gobain Glass, which specializes in basic glass products; the Saint-Gobain Glass Solutions network, which processes and distributes glass destined for the architectural and decoration markets; Saint-Gobain Sekurit, the leading supplier of glass to the automotive and transport markets; and finally Saint-Gobain Specialties, which supplies glass products to the domestic appliances and electronics industries, but also to the industrial and commercial equipment industries.
April 7, 2005
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