Acquisition
October 26 2005 - 12:59PM
UK Regulatory
RNS Number:2155T
Compagnie de Saint-Gobain
26 October 2005
press
release October 26, 2005
XUGANG ACQUISITION
On October 25, 2005, the Pipe Activity of the Saint-Gobain Construction Products
Sector signed an agreement to acquire 100% of Xugang company (Xuzhou General
Iron And Steel Works), which belongs to the municipality of Xuzhou (Jiangsu
province), as well as the shares held by Xugang in DIP (Ductile Iron Pipe Co.).
This agreement will become valid once the authorization of the relevant Chinese
authorities has been obtained.
Xugang is Saint-Gobain's partner in the Saint-Gobain Pipelines Xuzhou Joint
Venture, which was created in November 2002.
The Xugang Company produces roughly 600 kt of molten cast iron per year. Its
facilities include five blast furnaces, installations for the preparation of
iron ore and two coke batteries. This company is the major supplier of liquid
cast iron for the production units of Saint-Gobain Pipelines Xuzhou and DIP.
This acquisition strengthens the number two position of the Pipe Activity in the
Chinese market which is experiencing strong growth. It also allows a significant
improvement in the competitiveness of these pipe production units in China.
With this acquisition, the Pipe Activity also consolidates its world leadership
in cast iron pipe systems.
Investor Relations Department
Mrs Florence TRIOU-TEIXEIRA Tel.: +33 1 47 62 45 19
Mr 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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