TIDMCOD
RNS Number : 9621C
Compagnie de Saint-Gobain
09 May 2012
May 9, 2012
SAGE Electrochromics to become wholly owned subsidiary of
Saint-Gobain
Saint-Gobain has agreed to purchase all outstanding shares of
SAGE Electrochromics, Inc. and will own 100% of the company upon
completion of the transaction.
This deal will help SAGE expand into international markets,
develop new products and complete construction of the company's
new, state-of-the-art manufacturing facility in Faribault, MN. The
new facility, scheduled to start production in January 2013, will
be the most advanced electrochromic glass facility in the world and
is expected to produce 3.2 million sq. ft. of electrochromic glass
annually, supporting the creation of 160 green technology jobs.
While SAGE will be a wholly owned subsidiary of Saint-Gobain,
the SAGE portfolio will continue to go to market under the
SageGlass(R) brand, leveraging Saint-Gobain's extensive footprint
from a global operations center in Faribault, MN.
"Through this action, Saint-Gobain underscores its goal to be
the reference in sustainable habitat by developing innovative
solutions capable of revolutionizing the habitat market," said
Pierre-Andre de Chalendar, Chairman and CEO of Saint-Gobain. "The
result of many years of research, SAGE's products and technologies
complement our portfolio of materials. They open up new
possibilities in architecture and design by offering creative,
value-added glass solutions for the commercial and residential
market in order to create buildings that are comfortable,
beautiful, energy efficient and environmentally friendly."
Electrochromic glass changes from a clear state to a tinted
state. It can be integrated with a building management system or
activated at the push of a button to control the sunlight and heat
that enters and leaves a building. It significantly reduces energy
consumed for air conditioning, heating and lighting, while
enhancing occupant comfort and well-being by providing daylight and
eliminating glare. This creates a far more appealing design
aesthetic standard for the architectural industry compared to the
current prevalent use of mechanical window shades and blinds and
other building add-ons.
"We are delighted SAGE is joining Saint-Gobain's portfolio of
innovative glass and building materials," said John Van Dine, SAGE
CEO and founder. "They have been an outstanding partner the past
two years, contributing technical and manufacturing expertise,
financial support and strategic guidance to the SAGE team, as well
as offering access to the company's research centers. The combined
patent portfolio of Saint-Gobain and SAGE is quite substantial. We
also want to thank the full range of our investors, who have made
significant monetary and advisory contributions to SAGE over the
years, all of whom helped bring the SAGE vision to fruition since
its founding in 1989."
About Saint-Gobain
Located in 64 countries and headquartered in Paris with nearly
195,000 employees, Saint-Gobain, the world leader in the habitat
and construction markets, designs, manufactures and distributes
building materials, providing innovative solutions to meet growing
demand for energy efficiency and for environmental protection. For
more information about Saint-Gobain, please visit
www.saint-gobain.com.
About Saint-Gobain in North America Saint-Gobain has its North
American headquarters in Valley Forge, Pennsylvania. As the world
leader in sustainable habitat, Saint-Gobain is committed to
inventing solutions to help professionals and communities around
the world build and renovate comfortable, healthy, economical and
energy-efficient buildings. The company has more than 265 locations
in North America and approximately 19,000 employees. In the United
States and Canada, Saint-Gobain reported sales of approximately
$7.7 billion in 2011. Including SAGE, in Minnesota, Saint-Gobain
has nearly 400 employees in six facilities across the state.
Saint-Gobain's family of companies in North America includes
CertainTeed Corporation, which offers the most comprehensive
portfolio of interior and exterior building products in North
America, as well as Saint-Gobain Abrasives, Saint-Gobain
ADFORS,Vetrotech Saint-Gobain North America, Saint-Gobain Glass,
Saint-Gobain Solar, Saint-Gobain Performance Plastics and more.
Saint-Gobain is the proud recipient of the 2012 ENERGY STAR
Sustained Excellence Award by the U.S. Environmental Protection
Agency, the highest level of recognition for outstanding
contributions to protecting the environment through energy
efficiency. For information about Saint-Gobain in North America,
visit www.saint-gobain-northamerica.com.
About SAGE Electrochromics, Inc.
SAGE Electrochromics is the world's leading manufacturer of
electronically tintable glass that can be tinted or cleared to
optimize daylight and improve the human experience in buildings.
SageGlass controls the sunlight and heat that enter a building,
significantly reducing energy consumption while improving people's
comfort and well-being. SageGlass can reduce a building's cooling
load by 20% and HVAC requirements up to 30%. It is a smarter, more
elegant solution than conventional sun controls such as mechanical
window shades, blinds and louvers. The company was founded in 1989
and is headquartered near Minneapolis-St. Paul, Minn., in the heart
of "the Silicon Valley of the window industry." Since 2010, SAGE
has been strategically partnered with Saint-Gobain.
Analyst / Investor Relations Press Contact
------------------------------------------- ----------------------------------------------------------
+33 1 47 62
45 19 +33 1 47 62
+33 1 47 62 30 48
Florence Triou-Teixeira 44 29 Sophie Chevallon
Vivien Dardel +33 1 47 62 +33 1 47 62
Alexandra Baubigeat 30 93 Susanne Trabitzsch 43 25
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