Saint-Gobain makes 35m-euro investment in Ploiesti

Saint-Gobain Isover Romania invested 35 million euros in a glass mineral wool production facility, built on an industrial site in Ploiesti. The plant, opened on Tuesday, is located on a 10,000 square-metre plot, with an annual capacity of around 20,000 tonnes. Around 50% of the output of the new plant is sold on the domestic market, with the rest exported, in particular to South-Eastern Europe. The company also owns a plant in Ploiesti producing glass wool used for insulation, with a production capacity of 8,000 tonnes per year. According to its own estimates, Saint-Gobain Isover has a 48% share of the glass wool market, and a 55% share of the basalt wool market. The company posted a six million euro turnover in the first three months of the year. The company is part of the French group Saint-Gobain, one of the leading producers of construction materials worldwide. The company is 99.1% held by Saint-Gobain Isover Austria, whilst the remaining shares are controlled by Saint-Gobain Isover Poland.