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May 25, 2011, 10.57 AM IST
Saint Gobain is keen to expand its domestic glass business and is looking at its manufacturing activity which will fuel its growth and advanced technology, reports CNBC-TV18’s Ashwin Mohan quoting sources.
It is learnt that Saint Gobain is in advanced talks with Sezal Glass to acquire its 150 acre float glass plant in Bharuch, Gujarat. It produces 550 tonnes of float glass per day.
Sources add that the deal is likely to be closed by the end of this month. Deal likely to be closed by the end of May. Both the parties are keen on the deal closure before the new Competition Commission of India’s (CCI) merger and acquisition norms kick in.
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