Compagnie de Saint-Gobain Disposal (4702Z)
March 07 2013 - 4:00AM
UK Regulatory
TIDMCOD
RNS Number : 4702Z
Compagnie de Saint-Gobain
07 March 2013
March 7, 2013
Saint-Gobain sells its PVC "Pipe & Foundations" business
to Westlake Chemical for US$175 million (around EUR135
million)
Saint-Gobain signed an agreement for the sale of its U.S.-based
PVC Pipe & Foundations business to North American Pipe
Corporation, a subsidiary of Westlake Chemical Corporation
(NYSE:WLK) of Houston, Texas, for a total price (enterprise value)
of US$175 million (around EUR135 million), representing 7.2 times
2012 EBITDA (US$24 million). Manufactured by Saint-Gobain's
Exterior Products Division within the Construction Products Sector
and marketed under the CertainTeed brand, these polyvinyl chloride
pipes and fittings are used in various agricultural and industrial
applications. The business employs close to 200 people and has two
production sites in the United States, in Lodi, California and
McPherson, Kansas.
With this divestiture, Saint-Gobain's Exterior Products Division
is contributing to Saint-Gobain's strategic refocusing on the
Habitat market. CertainTeed, with its insulation, wallboard,
roofing, siding and ceilings products designed specifically for
North American homes and buildings, will then be fully focused on
the construction market (especially residential), allowing it to
fully benefit from the further upturn in this market.
The sale proceeds will be used primarily to pursue the Group's
acquisition strategy, focused on small- or medium-sized
acquisitions.
This transaction is expected to close in the 2(nd) quarter of
2013, subject to standard closing conditions including US
regulatory review.
About Saint-Gobain
Saint-Gobain, the world leader in the habitat and construction
markets, designs, manufactures and distributes building materials,
providing innovative solutions to the challenges of growth, energy
efficiency and environmental protection. With 2012 sales of EUR43.2
billion, Saint-Gobain operates in 64 countries and has nearly
193,000 employees. For more information about Saint-Gobain, visit
www.saint-gobain.com.
About Westlake Chemical
Westlake Chemical is a manufacturer and supplier of
petrochemicals, polymers and building products. The company's range
of products includes: ethylene, polyethylene, polypropylene,
styrene, caustic, VCM, PVC resin and PVC pipe, windows and fence.
For more information about Westlake Chemical, visit
www.westlake.com.
Analyst / Investor Relations Press Contact
--------------------------------------------- ------------------------------------------------------------
+33 1 47 62
45 19
+33 1 47 62 +33 1 47 62
Florence Triou-Teixeira 44 29 30 48
Vivien Dardel +33 1 47 62 Sophie Chevallon +33 1 47 62
Alexandra Baubigeat 30 93 Susanne Trabitzsch 43 25
--------------------------- ---------------- -------------------------------------------- --------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISKMGGFRNLGFZG
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Jul 2023 to Jul 2024