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Saint-Gobain has acquired shares in Russian glass yarn manufacturer, Steklovolokno.
Saint-Gobain Vetrotex International and Saint-Gobain Vertex acquired 85% of the shares of Steklovolokno, a glass yarn manufacturer located at Gus Krystalny in the area of Vladimir in the North-East of Moscow. This company is leader in the Russian market, with sales of approximately 20 million euros.
The acquisition fits with the development strategy of the Saint-Gobain Group for emerging countries. Through this operation, the Reinforcements Division aims to develop its upstream and downstream activities in a favourable economic context and leverage the growth of the Russian composites market.
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