Saint-Gobain (SG) Vetrotex America, the US division of glass fiber giant SG (Paris) is up for sale. The announcement came in the aftermath of SG & Owens Corning's (Toledo) July announcement of plans to establish a joint venture (JV) that would bring together the 2 companies' reinforcements & composites businesses under a new banner: Owens Corning-Vetrotex Reinforcements. The agreement is intended to establish a global company, headquartered in Toledo, Ohio, that would produce reinforcements & composite fabric products, with anticipated worldwide revenues of approximately $1.8BN. SG reports that after analyzing the possible regulatory issues relating to the proposed JV, it has decided that SG Vetrotex America will be excluded from the JV & sold off. A spokesperson for SG says all other global Vetrotex units will be parties to the JV. Outside the U.S., Saint-Gobain Vetrotex maintains facilities in Chambery, France and a number of other locations, including Germany, Spain, Italy, the Czech Republic, Thailand, China, South Korea and Brazil.
