The Reinforcements Division of Saint-Gobain, and Chinese company, HongFa Co, signed an 80/20 joint venture agreement in February 2004 for the formation of Saint-Gobain Technical Fabrics HongFa, located in Changzhou in the province of Jiangsu. HongFa Co, manufactures and markets high quality fabrics for the Composites and Geotextile markets. The joint venture, the leader in these twin markets in China, will benefit from Hongfa's strengths, including an in-depth knowledge of the Chinese market, a solid sales and marketing structure, and advanced technological skills. Following the start-up of Hangzhou's HSGV new furnace and the launch of extension work on the DouDian BSGV furnace in 2003, Saint-Gobain Technical Fabrics HongFa represents a major step towards broadening the Reinforcements Division's operating presence in Asia. (whole item)
