Compagnie de Saint-Gobain Disposal (7111V)
April 16 2021 - 2:07AM
UK Regulatory
TIDMCOD
RNS Number : 7111V
Compagnie de Saint-Gobain
16 April 2021
PRESS RELEASE
April 16, 2021
SAINT-GOBAIN DIVESTS ITS PIPE BUSINESS IN CHINA
Saint-Gobain announces the signature of an agreement concerning
PAM China, pursuant to which the Group is selling 67% of its Pipe
business in China to a consortium led by local management. The
transaction should close during summer 2021 and values the company
at around EUR100 million.
PAM China comprises a production facility in Ma'anshan, in the
country's eastern region, employs almost 1,100 people, and
generated EUR170 million in sales and EUR9 million in operating
income in 2020.
This transaction results in the divestment of Saint-Gobain's
control of PAM China, whilst allowing its link with the Pipe
business in Europe to be maintained by way of a long-term
industrial partnership. It is part of Saint-Gobain's continued
portfolio optimization strategy to enhance the Group's growth and
profitability profile.
ABOUT SAINT-GOBAIN
Saint-Gobain designs, manufactures and distributes materials and
solutions for the construction, mobility, healthcare and other
industrial application markets. Developed through a continuous
innovation process, they can be found everywhere in our living
places and daily life, providing wellbeing, performance and safety,
while addressing the challenges of sustainable construction,
resource efficiency and the fight against climate change. This
strategy of responsible growth is guided by the Saint-Gobain
purpose, "MAKING THE WORLD A BETTER HOME", which responds to the
shared ambition of all the women and men in the Group to act every
day to make the world a more beautiful and sustainable place to
live in.
EUR38.1 billion in sales in 2020
More than 167,000 employees, located in 70 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain,
visit www.saint-gobain.com and follow us on Twitter @saintgobain
Analyst/Investor relations Press relations
+33 1 88 54 +33 1 88 54
29 77 26 83
+33 1 88 54 Patricia Marie +33 1 88 54
Vivien Dardel 19 09 Bénédicte 14 75
Floriana Michalowska +33 1 88 54 Debusschere +33 1 88 54
Christelle Gannage 15 49 Susanne Trabitzsch 27 96
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