Thai Automotive Glass Deal

Saint-Gobain Sekurit has signed a joint venture agreement with the leading Thai paint company, TOA, to build an automotive glass factory in Thailand. Attracted by the potential development of the Thai car industry, Saint-Gobain has invested around FFr200m in the project. The Thai car industry is expected to almost double its capacity to about 1m units by the year 2000. Through this investment Saint-Gobain hops to capture rapidly 30% of the market, breaking the current domination of Asahi Glass which controls, directly or indirectly, about 80% of the local market. (whole article)