It was recently reported that Saint-Gobain plans to acquire 2 Algerian glass companies in a move to strengthen its position in the Maghreb. The buyer is apparently in talks for state-owned specialists Alvert & Sovest, which are to be privatised. No financial details were disclosed. The operation is in line with Saint-Gobain's recent moves in the Maghreb & is a further step in its growth strategy in emerging countries. At the beginning of December 2007, SG acquired Algerian plaster producer Entreprise de Platre et Derives (EPD) for US$ 8.89M. Earlier, the group set up a JV with Egyptian real estate group El Mansour & El Maghraby Investment/Development Company (MMID) to build & operate a float glass production unit. The investment was estimated at EUR 120M. Building work is due to start in 2008, while the facility is to be operational in 2009. The output of the facility will be destined for the Egyptian market and also exported to the Middle East and Africa.
