Compagnie de Saint-Gobain Acquisition (1176I)

TIDMCOD

RNS Number : 1176I

Compagnie de Saint-Gobain

14 June 2017

PRESS RELEASE

June 14, 2017

Saint-Gobain IN EXCLUSIVE TALKS TO

STRENGTHEN ITS INSULATION BUSINESS IN the NORDICs

Saint-Gobain has entered into exclusive talks with the founding families and shareholders of GLAVA A/S to buy their shares, with the support of the company's management. Prior to this operation, Saint-Gobain already owned 17.08% of the capital of Glava, which has manufactured products under an Isover license since 1960.

A leading player on the insulation market in Norway, Glava reported sales of over EUR140 million in 2016. The company has two glass wool plants, at Askim, 55km from Oslo, and at Stjørdal near Trondheim. It also has workshops producing expanded polystyrene and ceilings. Glava supplies a comprehensive range of insulating products and accessories to its customers.

This acquisition - subject to certain conditions including the approval of the Norwegian anti-trust authorities - will allow Saint-Gobain to reinforce its position in the Nordics in line with its strategy.

ABOUT SAINT-GOBAIN

Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.

EUR39.1 billion in sales in 2016

Operates in 67 countries

More than 170,000 employees

www.saint-gobain.com

@saintgobain

 
 
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This information is provided by RNS

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June 14, 2017 12:07 ET (16:07 GMT)