Disposal
April 27 2006 - 1:09PM
UK Regulatory
RNS Number:1424C
Compagnie de Saint-Gobain
27 April 2006
April 27, 2006
press release
DISPOSAL OF SAINT-GOBAIN CALMAR
Saint-Gobain has signed today an agreement regarding the sale of its subsidiary
Saint-Gobain Calmar to MeadWestvaco Corporation. Calmar is a leading global
manufacturer of plastic dispensing and spraying systems for cosmetics and
fragrance, personal care as well as pharmaceutical industries.
The transaction values Calmar at $745 million (of which $710 million in cash
paid by MeadWestvaco and $35 million of eliminated commitments by Saint-Gobain).
In 2005, Calmar reported a pro-forma EBITDA of $72.7 million.
Acquired by the Saint-Gobain Group in 1998, Calmar reported pro-forma sales of
$403 million in 2005 and has approximately 2,700 employees based in 10
production sites.
Calmar will benefit from MeadWestvaco's financial capacity and global packaging
strategy, which should support its future development as a major player in its
business.
With annual revenues exceeding $6 billion, MeadWestvaco is a leading global
packaging company that delivers high-value packaging solutions and products to
companies in the food and beverage, media and entertainment, personal care,
cosmetic and healthcare industries. MeadWestvaco employs approximately 23,000
people around the world.
The completion of the transaction, which is subject to the approval of the
relevant anti-trust authorities, should be effective before the end of June
2006.
As it was communicated following the acquisition of BPB, the Saint-Gobain Group
is implementing a dynamic strategy of active portfolio management, consistent
with its business model.
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
DISGGGZDNNDGVZM
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