Saint Gobain to invest Rs 100 cr

Date: 13 March 2006
Source: Indiatimes.com

Date: 13 March 2006

Saint Gobain Glass India will invest Rs 100 crore by October for launching new glass solutions for the automotive sector.

The company has already invested Rs 1,400 crore for its second glass complex in Sriperumbudur over the last five years.

"With these investments, the total production capacity would scale up to 1,500 tonne of glass per day," Saint Gobain national manager (marketing and sales) R Subramanian said.

The company launched its 'Sun Ban Reflective Glass' in the city and by end of this month plans to complete the nationwide launch of the product.

The glass industry is growing at 10 to 12 per cent and last year the growth had been 14 per cent, he added.

The new plant in Sriperumbudur exports its 30-40 per cent production, while the old plant there with a capacity of 650 tpa is addressing the domestic demand, he said.

Paris-based Saint Gobain Group has nine companies in India and for the year ending 2005, the Group's gross sales in India exceeded Rs 1,200 crore of which SGGI contributed one third, Subramanian added.

Of the total domestic market size of Rs 1,700 crore, SGGI's share is 26 per cent, he said.

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