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Saint-Gobain’s Construction Products sector has gained a foothold in the Japanese insulation market through its acquisition of the 43.64% stake held by Nippon Sheet Glass in MAG. The acquisition was made for 1750 million yen (about $17 million). Following the acquisition, MAG will be jointly owned by Taiheiyo Cement and Saint-Gobain, each with a stake of 43.64%, and will be operationally managed by Saint-Gobain.
MAG, reportedly the first glass wool manufacturer in Japan, achieved consolidated sales of 20,219 million yen (~ $193 million) in 2007 and has about 440 employees. It operates four plants located in Ibaraki (Akeno and Tsuchiura), Gifu (Tarui) and Hokkaido (Sunagawa). The company has been an Isover licensee for many years and has been using the Saint-Gobain TEL process since 1974.
Japan is one of the world’s leading construction products markets. The building industry employs 9% of the country’s active population, and 1.2 million new dwellings are built each year. New building standards with greater emphasis on insulation should become effective this year. The standards aim to address the growing concern of government and consumers for environmental protection (reduction of CO2), energy efficiency and comfort.
Visit www.saint-gobain.com for more information.