StockMarketWire.com - Saint-Gobain and Central Glass Co have signed an agreement to create a 50:50 joint venture in Indonesia that will specialise in automotive glass.

A plant will be built east of Jakarta to meet the Indonesian automotive market's rapid growth.

The new facility is scheduled to come on stream in 2016 and will have an annual production capacity of 500,000 windscreens. The agreement is subject to the approval of the anti-trust authorities. Saint-Gobain and Central Glass have been working jointly in the field of automotive glass since 2002 in Japan, and 2012 in China. Saint-Gobain says the investment in Indonesia marks a milestone for the group's growth strategy in Asia and emerging countries.


At 8:04am: [LON:COD] Compagnie De Stgobain share price was -0.1p at 39.29p



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