Russia: The European Bank for Reconstruction and Development (EBRD) has announced that it will consider additional investment and increased shares in the French building materials company Saint Gobain at its next board of directors meeting on 18 December 2012.
In a recent press release the EBRD stated that it will consider increasing its investment in the share capital structure in the Russian market leader leader to Euro24.3m and increase the current share of the bank in the Russian company to a maximum of 33%. The EBRD currently owns 11.19% Saint-Gobain Construction Products RUS.
Investment Bank will finance the majority of the planned investment programme of Saint Gobain Construction Products RUS, which will be implemented from 2013 to 2017. For the investment programme of the Russian units Saint Gobain will need Euro340m in this period.
The investment programme includes the development of a gypsum plasterboard plant in Nizhny Novgorod, as well as the construction and upgrade of existing plants. The project includes investments in companies in various regions and cities of Russia, such as Nizhny Novgorod, Arzamas, Yekaterinburg and Chelyabinsk.
