Disposal
May 26 2005 - 4:11AM
UK Regulatory
RNS Number:7872M
Compagnie de Saint-Gobain
26 May 2005
Press
release
AGREEMENT REGARDING THE SALE OF
SAINT-GOBAIN STRADAL
Saint-Gobain has signed an agreement regarding the sale of its subsidiary
Saint-Gobain Stradal to the CRH Group.
Saint-Gobain Stradal designs, manufactures and sells concrete products for
exterior fittings used in gardening and landscaping, road construction and
utilities, and the rail and funeral industries.
Stradal and its subsidiary SAE Beton, which it acquired in January 2005,
reported sales of Euro180 million in 2004, and presently have more than 1,000
employees based at 24 plants.
Stradal, which joined the Saint-Gobain Group in 1996 at the time of the
acquisition of Poliet (Point. P and Lapeyre), caters almost exclusively to the
French market and therefore does not fit into the Group's strategy of expanding
its international presence.
Saint-Gobain accepted CRH's bid for Stradal, as it felt CRH had the investment
potential and strategy to guarantee Stradal's continuing position as a major
player in its sector.
CRH is an international building materials group formed in Ireland in 1970
through the merger of Irish Cement and Roadstone (aggregates). CRH has over
60,000 employees based in 24 countries and reported sales of close to Euro13
billion in 2004.
This transaction is to be submitted to the French competition authorities for
approval.
May 26, 2005
Investor Relations Department
Florence TRIOU-TEIXEIRA Tel.: +33 1 47 62 45 19
Alexandre ETUY Tel.: +33 1 47 62 37 15
Fax: +33 1 47 62 50 62
This information is provided by RNS
The company news service from the London Stock Exchange
END
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