SAINT GOBAIN : Saint-Gobain : Flovetro To Become Full-Owned Unit Of NSG
03/30/2012| 03:17am US/Eastern
Compagnie de Saint-Gobain SA (SGO.FR) Friday said it signed an agreement on Mar.29 with NSG Corportation for the acquisition by NSG of Saint-Gobain's total stake in Flovetro SpA
- Flavetro , which operates one flat glass manufacturing float line in San Salvo (Italy), has been jointly held 50-50 by the two groups since 1976.
- The transfer of shares, which is subject to no suspensive conditions, will be made on April 2, 2012. Flovetro SpA will then become a wholly-owned business of NSG.
- This transfer follows the upgrading by Saint-Gobain of its Pisa facility in 2011.
- By Paris Bureau, Dow Jones Newswires; +331-4017-1740; email@example.com