Guardian invests in India, Saudia Arabia

This past week marked two international investments for Guardian Industries of Auburn Hills, Mich.

The company received clearance from India’s Ministry of Finance to invest $67 million in a wholly owned glass manufacturing company in India, catering to automotive and construction industries, according to a Dec. 14 Financial Times article.

Guardian also holds a 50 percent stake in India’s Gujarat Guardian Ltd., a float glass manufacturer in which India’s Modi Rubber holds 21.24 percent, according to the article.

The company also jointly loaned $100 million to Saudia Arabia’s Guardian Zoujaj International Float Glass, Guardian RAK. The seven-year loan facility agreement is between Guardian Industries, The National Company for Glass Investments, Zoujaj, of Saudi Arabia and Zamil Group also of Saudi Arabia, according to a Dec. 18 gulfnews.com article.

Guardian RAK will use the loan to part finance its upcoming 700-ton-per-day float glass manufacturing unit in Ras Al Khaimah, United Arab Emirates, according to the article.