Saint-Gobain Sekurit and Trakya Cam, recently signed a memorandum of understanding to set up a 50-50 jv specialising in the production and sale of automotive glass in Russia. The investment project aims to build a plant in the Republic of Tatarstan that would supply the full glass car-set (windshield, sidelites and backlites) in quantities sufficient to equip 500,000 vehicles per year. Production is due to come onstream in 2013. Saint-Gobain also reinforced its position in insulation in Japan through the acquisition of a 43.7% stake in MAG. Following this transaction, which has received the agreement of Japanese competition authorities, SG now owns 87.3% of MAG's shareholders' equity. MAG, Japan's leading glass wool manufacturer, had been managed jointly by SG and Taiheiyo Cement since June 2008. See: www.saint-gobain.com
