Saint-Gobain is investing in hollow glass manufacture in the USA and is expected to pump $510m into the sector this year. The group also has plans to take over Verrerie Ouvriere d'Albi (VOA), based in the South West of France, in which it has held a 10% stake since 1989. VOA has a 5.7% share of the French market for the manufacture of bottles for wines & spirits. Separately, the French group is to divide up the distribution of its different industrial interests. Following a series of acquisitions, the group achieved a rise in turnover of 2.8%, but hopes to increase this to 8% a year. Nearly half of the profits must come from within the group itself. It plans to set aside 3 or 4 bn francs/year for repurchasing while around $300m will be invested in Mexico, India and China respectively, over the next three to four years. (whole item)
