French glass and building materials conglomerate Saint-Gobain on October 6 said that it will be scaling up its investment in Tamil Nadu to Rs 8,000 crore. The company’s India business chief B. Santhanam said that this will be done by investing a sum of Rs 3,400 crore across its different business operations throughout the southern state.
Today’s announcement came in an event attended by the state’s Chief Minister M.K. Stalin post the business group’s global board meeting. The company said that it was for the first time in its 358-year history that its annual global board meet was being held outside France.
“We are committed to expand our business operations in Tamil Nadu. This will involve a series of greenfield as well as brownfield capacity expansion,” Mr. Benoit Bazin, Saint-Gobain’s CEO, reportedly said as per a company note.
“We will be investing across different businesses: glasswool, gypsum plasterboard, plaster, acoustic ceiling, float glass, solar glass, adhesives, sealants, mortars and ceramics in our next phase of expansion in Tamil Nadu,” said B. Santhanam, CEO, Asia Pacific and India region and Chairman, Saint-Gobain India.
Saint Gobain India currently operates 46 manufacturing facilities across India, with 12 being in Tamil Nadu. As per reports, through its Indian listed entity Saint Gobain Sekurit and other glass making businesses, it commands a 30 percent market share in the domestic automotive glazing, 44 percent in float glass and 19 percent in coated glass segment.
In an earlier interview over a month ago, Santhanam had said that the global business group intended to invest Rs 8,000 crore in its overall India business operations.
“Saint-Gobain India over the next 4-5 years will invest 90 percent of the said amount towards funding capital expenditure and the remaining on acquisitions. We are looking for opportunities in the electronic vehicles segment. We are already into the business of making insulation and water-proofing for car batteries” Santhanam had said to the news agency PTI.
Saint-Gobain, apart from being the oldest glass maker in the world, is also engaged in the business of manufacturing a diverse range of building materials. Some of its business entities in India include glass maker 'Saint-Gobain Sekurit,' construction materials maker 'Saint-Gobain Weber' and false-ceiling sheets manufacturer 'Gyproc' among others.
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