NSG Group Announces Major Expansion of its Float Glass Business in Russia
The NSG Group announces that it has today signed agreements concerning the future expansion of its float glass business in Russia.
The first part of the expansion project relates to the merger of Pilkington Glass LLC with the STiS Group of Companies. Pilkington Glass LLC currently operates a float glass production line in Ramenskoye, near Moscow. STiS is the leading manufacturer of insulated glass units in Russia and has processing operations across Russia. The merged business will be the only integrated flat glass business in Russia combining float glass manufacturing facilities with nationwide downstream processing activities.
Concurrently, the Russian Corporation of Nanotechnologies (RUSNANO) and the European Bank for Reconstruction and Development (EBRD) will also invest in the merged business. These funds will finance the construction of a new float line at the site of the NSG Group’s current float line in Ramenskoye, Russia. The new investment from EBRD and RUSNANO will also enable the installation of new coating facilities in Ramenskoye, capable of manufacturing low-emissivity energy-saving products to supply the growing market for energy-efficient glazings in Russia.