New Joint Venture In Taiwan To Produce Technical Fabrics

New Joint Venture In TaiwanTo Produce Technical Fabrics
The Reinforcements Division of Saint-Gobain, France, and Hongfa Geocomposite Engineering Co. Ltd., China, have signed an agreement to establish Saint-Gobain Technical Fabrics Hongfa (Changzhou), a joint venture in Jiangsu province to manufacture technical fabrics for the composite and geotextile markets. Saint-Gobain will hold 80 percent of the venture.According to Hongfa, the estimated total investment in the joint venture is $29.98 million; and first-year sales of the joint company is expected to reach 300 million to 500 million Chinese yuan. Construction of the new factory began in March.

Saint-Gobain’s sales in emerging markets increased more than five-fold between 1997 and 2003.
Summer 2004