Disposal
July 27 2007 - 1:20PM
UK Regulatory
RNS Number:0517B
Compagnie de Saint-Gobain
27 July 2007
Paris, July 27, 2007
Sale of the Reinforcement and Composites business
to Owens Corning for $640 million
Saint-Gobain announces that definitive agreements to sell its Reinforcements and
Composites activities to Owens Corning were signed on the 27th of July, 2007.
Total consideration for the divested assets (excluding Saint-Gobain US
reinforcement fiber activities which are to be sold independently) amounts to an
enterprise value of $640 million. The overall 2006 turnover of the activities
sold to Owens Corning is Euro715 million.
The closure of the transaction is scheduled by the end of 2007, subject to the
agreement of relevant competition authorities.
Saint-Gobain's Textile Solutions business, serving mainly construction markets,
will remain part of the Group's High-Performance Materials sector.
***
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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