Glass maker Saint-Gobain sees 2008 profit fall

Compagnie de Saint-Gobain, one of the world's largest producers of glass for the construction and automobile industries, Friday said it would sell around €1.5 billion ($1.91 billion) in new shares to bolster its capital amid the deepening global economic crisis.

Saint-Gobain stock plunged on the news and and in midmorning trading in Paris was down 15.7 percent at €23.59, it's lowest level since last October.