Compagnie De Saint-gobain Share Discussion Threads

[waldron] 14/4/2015 17:34

(CercleFinance.com) - Saint Gobain a franchi début avril la résistance des 42E de fin février... mais le plafonne déjà sous 43,1E.

En cas d'enfoncement de la MM20 qui gravite vers 41,4E, le titre pourrait consolider jusqu'au contact de la MM100 qui gravite vers 38E.

[waldron] 14/4/2015 11:54

TIDMCOD

RNS Number : 1288K

Compagnie de Saint-Gobain

14 April 2015

April 13, 2015

Saint-Gobain steps up presence in abrasives in Brazil

Saint-Gobain has signed a joint venture agreement with British Indústria e Comércio Ltda., a manufacturer of non-woven abrasives in Brazil, resulting in the acquisition of 70 percent of this company's equity. Created in 1996, the company is located in Indaiatuba, 100 km from Sao Paulo. It manufactures and sells non-woven abrasives for industrial applications (surface conditioning materials), professional cleaning and consumer goods.

In a market for non-woven products that has high growth potential in South America, this investment will enable Saint-Gobain to strengthen its lead position in the industry and construction segments. The Group will be able to expand its range of abrasive products and add new customers to its portfolio.

ABOUT SAINT-GOBAIN

In 2015, Saint-Gobain is celebrating its 350(th) anniversary, 350 reasons to believe in the future. Backed by its experience and its capacity to continuously innovate, Saint-Gobain, the world leader in the habitat and construction market, designs, manufactures and distributes high-performance and building materials providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2014 sales of EUR41 billion, Saint-Gobain operates in 64 countries and has over 180,000 employees. For more information about Saint-Gobain, visit www.saint-gobain.comand the twitter account @saintgobain or download the "Saint-Gobain Shareholder" application for tablet and smartphone.

With approximately 10,600 employees, Saint-Gobain's Abrasives Activity has a powerful manufacturing network of 63 plants in 27 countries. Its portfolio of products (coated, bonded, superabrasives, organic grinding wheels, construction products) offers comprehensive solutions for every step of the grinding process. For more information, visit www.saint-gobain-abrasives.com.



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[waldron] 23/3/2015 18:00

ZURICH--A Swiss court affirmed a restriction on the voting rights of a large shareholder in Sika AG on Monday, handing the industrial adhesives maker a victory in its efforts to fend off a hostile takeover by Saint-Gobain SA.

In a summary decision, the Cantonal Court in Zug upheld a decision by Sika's board to cap the voting rights of the founding Burkard family at 5%, well below the stake's original weight of more than half the voting rights, Sika said. The family previously was exempted from a company rule that limited all shareholders' voting rights to 5%.

The Burkard family, which is trying to sell its stake to Saint-Gobain for 2.75 billion francs ($2.82 billion), own about 16% of Sika's shares. Saint-Gobain is willing to pay a premium of roughly 80% because the shares hold 52.9% of the company's votes. The French construction materials giant isn't extending its offer to other Sika shareholders.

The court's decision creates a new obstacle for Saint-Gobain and the family, which have been opposed by Sika's board and management. In January, the board restricted the family's voting rights, which had been granted because of the family's pledge to protect the company from takeovers, because it wanted to sell to Saint-Gobain.

Schenker-Winkler AG, the family's holding company, said in a statement that the decision didn't affect the validity of its agreement with Saint-Gobain. Schenker-Winkler also said that it can apply for another legal decision to restore its voting rights or ask the court to overturn decisions made at the Sika annual meeting.

Sika's annual general meeting is scheduled for April 14.

Sika said that it welcomed the court's decision and would analyze it in detail.

A spokesman for Saint-Gobain said that the company was sticking to the timetable of its takeover of Sika and expects to complete the transaction in the second half of 2015.

Shares of Sika jumped 10% in value immediately after the announcement. In early afternoon, the stock was up nearly 6.2% at 3764 Swiss francs.

Sika management has rebuffed efforts by Saint-Gobain to smooth relations, arguing that the deal doesn't treat all shareholders fairly. Sika has also said that it would get lost inside a conglomerate as big as the French giant.

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[waldron] 06/3/2015 16:02

ZURICH-- Sika AG suffered a setback in its battle to prevent a takeover by France's Saint-Gobain SA as the body governing acquisitions in Switzerland ruled in favor of the founding family's plan to sell its interest.

The Swiss Takeover Board said Friday that it upheld a so-called opting-out clause that gives the Burkard family more than half of the company's voting rights without triggering a mandatory offer for the rest of Sika's shares.

The decision makes it more likely that the clause will be upheld if Saint-Gobain is successful in its attempt to seize control of Sika.

The Burkard family is trying to sell its stake to Saint-Gobain, giving the building materials giant control of Baar-based Sika. The Burkard's stake, which is held by Schenker-Winkler Holding AG, represents around 53% of the company's voting rights but only about 16% of its share capital.

The 2.75 billion Swiss franc ($2.82 billion) deal between the family and Saint-Gobain has angered other shareholders because the French company hasn't offered to buy the rest of the company. The board and management of Sika, which makes chemicals additives for concrete and cement as well as adhesives for the automotive industry, has also opposed the planned takeover.

A court in Sika's home canton of Zug is currently deliberating on the takeover.

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[waldron] 25/2/2015 18:38

PARIS--French construction materials group Compagnie de Saint-Gobain SA (SGO.FR) on Wednesday said net profit jumped in 2014 thanks to profits made on the sale of assets.

The company said net profit rose to 953 million euros ($1.08 billion) from EUR595 million a year earlier, chiefly buoyed by the sale of bottle and jar maker Verallia North America. Revenue declined slightly to EUR41.05 billion, down from EUR41.76 billion a year ago as the company faced a weak construction sector in its home market.

A group of analysts polled by FactSet expected an average net profit of EUR1.19 billion out of sales of EUR41.1 billion.

"2014 confirmed the improvement in the Group's results despite a challenging macroeconomic climate in France and uncertainty in Germany," chief executive Pierre-Andre de Chalendar said in a statement.

Operating profit rose to EUR2.8 billion in 2014 from EUR2.75 billion in 2013.

Like construction companies and other suppliers to the industry, Saint-Gobain is still struggling to recover from the hit it took following the sovereign debt crisis in Europe which led to housing slumps in many countries and cuts in government spending in public works in many others.

Still, the company expects to improve its operating profit this year on a like-for-like basis.

-Write to William Horobin and Inti Landauro at [e-mail]; [e-mail]

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[waldron] 22/2/2015 09:00

Burkard Family Won’t Reverse Sika Deal on Investors’ Opposition

by Jan-Henrik Foerster
8:00 AM CET February 22, 2015



(Bloomberg) -- Sika AG’s founding family said it won’t reverse a 2.75 billion-franc ($2.9 billion) deal to sell its stake in the Swiss adhesives maker, even as the agreement faces resistance from management and investors.

The Burkard family has signed binding treaties with Cie. de Saint-Gobain SA and the deal is irreversible, Urs Burkard, who represents the family and is a member of Sika’s board of directors, said by e-mail. “Both sides are totally determined.''

The sale of the controlling interest has descended into a legal battle as Sika’s board, supported by investors including the Bill & Melinda Gates Foundation and Fidelity Worldwide, say a combination with the French company defies commercial sense. A deal would also allow the family to cash out of its investment before the need to transfer the stake to a generation of 11 offspring. The family says the relationship with the company had already deteriorated before the deal was signed.

“Sika’s appreciation of the family got lost in recent years,” Burkard said. “Management and board increasingly tried to diminish the influence of the family. We want to organize the succession in time, handing over the company into new and safe hands.”

Sika officials didn’t immediately respond to a phone call and e-mail seeking comment outside of regular office hours.
Legal Battle

While the Burkards own only 16 percent of Sika’s shares, they have 52 percent of voting rights because of the class of stock and an opt-out clause they hold. That means Saint Gobain doesn’t need to make an offer for all of the adhesives company, but Sika’s management board is seeking to overturn the opt-out.

“Investors knew or should have known about our right to sell the stake,” Burkard said. Investors confirmed the bylaws with the opt-out at the 2014 annual general meeting, said the executive, who’s also vice chairman of the family’s Schenker Winkler Holding AG investment vehicle.

The family is seeking an order by the cantonal court of Zug to call a shareholder meeting where it plans to oust board members opposing the sale. Sika says the Burkards’ voting rights should be curbed because they form a group with Saint Gobain.

“The chances are high that the family will be able to use all of its voting rights at the next shareholder meeting,” Burkard said. Restricting voting rights could lead to Sika becoming a target for a takeover by another company, he said. Burkard said he expects a first response from the court in March.

To contact the reporter on this story: Jan-Henrik Förster in Zurich at [e-mail]

To contact the editors responsible for this story: Simon Thiel at [e-mail]; Mariajose Vera at [e-mail] Tony Barrett

[waldron] 20/2/2015 15:55

By John Revill

ZURICH---Senior managers at Sika AG rejected on Friday an offer to meet with the chief executive of Saint-Gobain SA, throwing up another obstacle in the French company's attempt to seize control of the Swiss chemical maker.

In a two-page letter, the group of 120 managers refuted Saint-Gobain's claim that its 2.75 billion Swiss franc ($2.98 billion) takeover is friendly, saying it didn't treat shareholders fairly and could trigger an exodus of talent from the company.

"All stakeholders have raised concerns about the future of our company," said the letter, which was addressed to Saint-Gobain CEO Pierre-André de Chalendar. "Such a planned transaction must be clearly described as a hostile takeover," it read.

The letter, which was seen by The Wall Street Journal, represents the latest ratcheting of tension in the 10-week-old battle for Sika, whose founding Burkard family is trying to sell a holding company that controls its stake in the Baar-based chemical maker to Saint-Gobain. Sika managers and board members have said they weren't consulted on the deal before it was announced.

Sika's board has opposed the deal, and last month restricted the family's voting rights to 5%--in line with rules governing other shareholders--because it had formed "a group" with Saint-Gobain. That would deny the family the right to call an extraordinary general meeting to vote on the deal.

The family-owned holding company, Schenker-Winkler Holding AG, holds more than half of Sika's voting rights but less than a fifth of its shares. By purchasing the holding company, Saint-Gobain hopes to gain control of Sika without having to buy the whole company.

The strategy has provoked questions over Switzerland's corporate governance standards since it came to light in December. Many Swiss companies have similar share structures that are dominated by founding families.

Earlier this month, the Saint-Gobain CEO proposed a meeting to "correct some of the misunderstandings" that Sika's management voiced.

A spokeswoman at Saint-Gobain didn't respond to a request for comment.

Sika's managers indicated Saint-Gobain was far from coming to an agreement with the company.

"If you are not able to convince them that the planned takeover will be in the best interest of all involved, many of them will leave," reads the letter. "Currently you are far from the point of convincing them."

The managers also said the deal would have "very limited" advantages for Sika and could muzzle competition between the two companies in the 50 countries where they vie with each other.

So far investors representing more than 45% of Sika's share capital have backed the board's stance. Shareholders including, Threadneedle Investments and Fidelity Worldwide Investment, have lined up against Saint-Gobain.

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[waldron] 06/2/2015 21:02

(Bloomberg) -- Cie. de Saint-Gobain SA, which is trying to purchase Swiss adhesives maker Sika AG, may gain as much as 400 million euros ($450 million) in a hedging profit even if the deal falls apart, according to analysts.

The French company hedged its 2.75 billion-franc ($3 billion) offer from December in euros before the Swiss National Bank last month abandoned the cap on its currency. The ensuing strengthening of the franc increased the value of the hedge and Saint-Gobain could gain between 300 million euros and 400 million euros, depending on the tax rate, said Helvea Baader analyst Patrick Appenzeller.

Zuercher Kantonalbank analyst Martin Huesler said that based on the exchange rate on Feb. 4, Saint-Gobain would gain as much as 400 million francs if the transaction doesn’t go through.

Saint-Gobain is facing resistance from Sika’s management and minority investors to the planned purchase of a 16 percent stake with majority voting rights from the Swiss company’s founding family. They say that the transaction would hand the family an 80 percent premium for their stake and disrupt Sika’s business.

The company confirmed on Jan. 15 that it hedged the deal in euros. It hasn’t disclosed the exact terms of the transaction.

Saint-Gobain has no intention of walking away, having signed a binding accord and is still convinced the combination makes sense, said Andreas Bantel, a spokesperson for Saint Gobain. “Those estimates may be crowd-pleasing but have nothing to do with reality,” he said, responding to the analyst estimates.

Sika’s management last month tried to block the majority-voting powers that the founding family is selling. Sika’s attempt to block the deal is illegal and the decision lies with the courts now, said Andreas Durisch, a spokesperson for the family’s holding company.

To contact the reporter on this story: Jan-Henrik Förster in Zurich at [e-mail]

To contact the editors responsible for this story: Simon Thiel at [e-mail] Andrew Noel

[waldron] 03/2/2015 21:30

Prochains événements 25 fév 2015 | Résultats 2014
Après Bourse

[waldron] 26/1/2015 19:54

By John Revill

ZURICH-- Sika AG said on Monday that it has curbed the voting power of its controlling family, delivering a blow to French buildings materials company Saint-Gobain SA, which is trying to take over the Swiss chemicals company.

The move by Sika's board also makes it no longer possible for the Burkard family's investment company--Schenker-Winkler Holding AG--to call an extraordinary shareholder meeting to oust executives opposed to the 2.75 billion Swiss franc ($3.1 billion) takeover by Saint-Gobain.

The Burkard family agreed in December to a takeover offer for its holding company from Saint-Gobain, one of Europe's biggest building-materials groups by revenue. SWH currently has 52.4% of the voting rights in Sika but only 16.1% of the shares.

The sale, which would give St Gobain control without having to make an offer for the remaining 83.9% owned by shareholders, has been fiercely opposed by Sika's board and executives, forcing the family to call an EGM to remove executives who object to the takeover.

Sika's board said on Monday that the family should have its voting rights restricted in line with the company's rules which limit other shareholders to no more than 5% of the voting rights. Sika said that the Burkard family--descendants of the company's founder--had previously been exempt from the rule because of the family's close association with the company and its assertions that it would protect it against takeover bids.

"Now that the Burkard family-SWH have formed a group with Saint-Gobain, this historical privilege must be considered lost, together with the right to convene extraordinary general meetings," Sika said.

The decision of Sika's board, which was taken following legal advice, is now awaiting confirmation by the commercial court in the canton of Zug, though no date has been set for a decision.

Saint-Gobain said it disagrees with the Sika board's claim. "Saint-Gobain is advised by its legal counsel that these actions are clearly against all corporate law and governance principles in Switzerland," the French company said.

SWH described the move to restrict its voting rights as illegal and said in a statement it would use to "all necessary legal means to enforce its rights."

Sika said shareholders representing more than 35% of its total capital have given their assurance that they support the board of directors in its efforts to fend off the takeover. Shareholders including the Bill & Melinda Gates Foundation, Threadneedle Investments and Fidelity Worldwide Investment have backed the board's opposition, the company said.

Fidelity Worldwide Investment and Threadneedle Investment confirmed they backed Sika's management. A Threadneedle spokesman said: "This is an appropriate and prudent move by Sika's board and one that is clearly in the best interests of the company." The Bill & Melinda Gates Foundation couldn't be immediately reached for comment.

Sika employs 16,000 people, supplies additives for concrete and cement as well as noise-damping products for the automotive sector. The company increased sales by 8.3% to 5.57 billion francs in 2014 and said it expected operating profit of more than 600 million francs. Saint-Gobain is targeting the Sika stake in an attempt to kick-start its own earnings growth.

The company's chairman Paul Hälg said Saint-Gobain's hostile takeover was damaging to the entire company, and had unsettled management and the workforce.

Sika's performance would be held back by Saint-Gobain while shareholders would be disadvantaged if the French company seized control, Mr. Hälg said.

"This transaction model cannot work," he told The Wall Street Journal on the sidelines of the news conference.

"We are both competitors; they will own only 16% of us, but they will control us, and for this reason automatically they will prefer their own business to ours," he said. "Growth opportunities will all be decided in their favor," he added. "Over time Sika will lose and Sika shareholders will lose."

Write to John Revill at [e-mail]

Inti Landauro in Paris contributed to this article.

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[davidcod] 15/1/2015 09:39

KIBO looks a blinder. Bouncing from two major support levels. Next resistance is 9p.

[grupo guitarlumber] 03/1/2015 18:28

Prochains événements 25 fév 2015 | Résultats 2014
Après Bourse

[waldron] 23/12/2014 20:37

By Marta Falconi
ZURICH--A group of Sika AG (SIK.VX) shareholders has asked for a change to the Swiss company's articles of incorporation to make it more difficult for French materials conglomerate Saint-Gobain SA (SGO.FR) to buy the chemical maker.
On Tuesday, the Ethos Foundation and 11 shareholders who hold shares representing 1.7% of Zurich-based Sika's capital, said they have submitted a resolution requesting the company drop an "opting out" clause at an expected extraordinary shareholder meeting.
The clause allows an investor who purchases shares representing more than a third of the company's voting rights to be exempted from the obligation to make an offer for the rest of the shares.
"This is very detrimental to minority shareholders and endangers one of the flagships of Swiss industry," Ethos said in a statement.
The call for the vote comes two weeks after Sika became embroiled in a takeover tussle following an agreement between Saint-Gobain and members of the Burkard family, descendants of the company's founder. Saint-Gobain agreed to pay 2.75 billion Swiss francs ($2.8 billion) in cash for Schenker-Winkler Holding AG, a family company that holds 16% of Sika's capital but represents 52% of its voting rights.
In a statement, Sika said its board "will examine the request and proposal and will comment in due course." Saint-Gobain said the action "has no legal basis."
Sika, with annual sales of more than CHF5.14 billion, supplies a range of additives for concrete and cement. It also makes waterproofing products for the building sector and noise-damping products for automobile makers.
In late afternoon trading, Sika shares were 2.07% higher at CHF2,964.
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[waldron] 10/12/2014 09:12

By Neil MacLucas ZURICH--The founding family of Swiss construction chemicals maker Sika AG has called for an extraordinary general meeting to remove senior executives who object to its proposed sale of the company to French building-materials group Compagnie de Saint-Gobain SA.
Zurich-based Sika said that Schenker-Winkler Holding AG, a holding company owned by members of the Burkard family, wants to remove Sika Chairman Paul Hälg, as well as board members Monika Ribar and Daniel Sauter. Schenker-Winkler owns 16.1% of Sika's share capital but controls 52.4% of the company's voting rights.
Schenker-Winkler has proposed replacing Mr. Hälg with Max Roesle and appointing Chris Tanner as an additional board member, Sika said. The board will consider the request, Sika said.
Schenker-Winkler wasn't immediately available for comment.
The call for a shareholder meeting is the latest development in a takeover battle that erupted on Monday, when Saint-Gobain said it had agreed to pay 2.75 billion Swiss francs ($2.8 billion) in cash for the family's stake, part of the French group's attempt to kick-start earnings growth. The deal prompted a fierce response from Sika's management, which said it hadn't been consulted on the sale.
Sika's board said it didn't see the logic of the sale and warned "shareholder value would be impaired."
The shares fell 22% on Monday after news of the proposed transaction and a further 3.7% on Tuesday, leaving them 7.9% lower this year.
Sika, with annual sales of more than 5.14 billion Swiss francs, supplies a range of additives for concrete and cement. It also makes waterproofing products for the building sector and noise-damping products for automobile makers.
Write to Neil MacLucas at [e-mail]

[waldron] 08/12/2014 21:39

Prochains événements 25 fév 2015 | Résultats 2014
Après Bourse
28 avr 2015 | Chiffre d’affaires du 1er trimestre 2015
Après Bourse
04 juin 2015 |
15:00
(Europe/Paris) Assemblée Générale
Assemblée Générale
29 juil 2015 | Résultats du 1er semestre 2015
Après Bourse
28 oct 2015 | Chiffre d’affaires des neuf mois 2015
Après Bourse

[grupo guitarlumber] 08/12/2014 12:37

By Inti Landauro PARIS-- Saint-Gobain SA has agreed to buy a controlling stake in Switzerland's Sika for 2.75 billion Swiss francs ($2.8 billion) in cash as part of moves by the French building-materials group to try to kick-start earnings growth.
But the move has received a frosty response from Sika's management.
Saint-Gobain said Monday said it would take control of the Swiss chemicals supplier by buying out its major shareholder, the family-owned Schenker Winkler Holding AG, without making a full takeover bid.
"The [Sika] board and the group management believe that shareholder value would be impaired [after Saint-Gobain's move] as Sika in the planned setup wouldn't be able to continue its successful growth strategy," Sika said in a statement.
The Burkard family is letting down the public shareholders, which own almost 84% of Sika, while there are few merger benefits for Sika's shareholders, the company said. The family's Schenker Winkler holding company owns a 16.1% stake and 52.4% of the voting rights in Sika.
Saint-Gobain said keeping Sika independent from the rest of Saint-Gobain would be good for both companies.
"It is going to be a win-win for Sika," said Chief Executive Pierre-André de Chalendar, highlighting the synergies the deal would bring both companies.
Saint-Gobain said cost savings and revenue gains would amount to EUR100 million ($123 million) in the first year after the deal closes, and as much as EUR180 million by the fourth year.
Sika, with yearly sales of more than 5.14 billion Swiss francs, is a chemicals group that supplies of a range of additives for concrete and cement as well as waterproofing products for the building sector and noise-damping products for the auto sector.
Founded in 1910, one of Sika's first major commissions came in 1917, with the waterproofing of the Gotthard railway tunnel, one of the key transport links between northern and southern Europe. A recent project involved the refurbishment and waterproofing of the Sydney Harbour Bridge.
The transaction will be completed in the second half of 2015, after securing the approval of regulators. Saint-Gobain plans to immediately include Sika's figures in its accounts.
The company, one of France's oldest indusrial enterprises, also said it plans to sell the remaining part of Veralia, its bottle and jar manufacturing unit, up for sale. Saint-Gobain last year sold Veralia's businesses in North America
Neil MacLucas in Zurich contributed to this article.
Write to Inti Landauro at [e-mail]

[waldron] 08/12/2014 11:12

Compagnie de Saint-Gobain Acquisition
PrintAlert
TIDMCOD
RNS Number : 0776Z
Compagnie de Saint-Gobain
08 December 2014
December 8, 2014
Saint-Gobain accelerates the roll-out of its strategy
and announces the plan to acquire a controlling interest in Sika
and to launch a competitive process for the sale of Verallia
The Group has embarked on a significant reorganization of its business portfolio:
Saint-Gobain announces the plan to acquire a controlling interest in Sika, world leader in construction chemicals. The transaction involves Saint-Gobain's purchase of Schenker Winkler Holding AG, owner of 16.1% of Sika's capital and 52.4% of its voting rights, for CHF 2.75 billion (EUR2.3 billion). Following the acquisition, the Saint-Gobain Group will be able to fully consolidate Sika in its accounts, leading to a positive impact on net income as from the first year. Saint-Gobain does not intend to launch an offer for Sika's remaining shares and has full confidence in the company to continue developing the business.
Sika employs more than 16,000 people in 84 countries and reported CHF 5,142 million in sales in 2013 (EUR4.3 billion). Over the past few years, the company has shown remarkable growth (more than 8% average annual growth between 2007 and 2013) and capacity for development in emerging countries (38% of its sales are made in emerging countries).
Sika is the world leader in construction chemicals and no. 2 worldwide for adhesives and sealants for its industrial applications. Its products and services draw on extensive technological expertise in waterproofing, soundproofing, sealing and bonding, and protecting and reinforcing structures.
Given the proximity of Sika's activities with those of Saint-Gobain (Construction Products and Innovative Materials as well as Building Distribution), the deal is expected to generate EUR100 million in synergies as from the second year (2017), and EUR180 million per year as from 2019. The deal will create value by the fourth year.
The transaction is subject to clearance from the competent anti-trust authorities and is expected to be finalized in the second half of 2015 at the latest.
Saint-Gobain also plans to launch a competitive process for the sale of Verallia. Verallia is a world leader in glass packaging, employs around 10,000 people and has industrial plants in 13 countries. In 2013, Verallia reported sales of EUR2.435 billion (excluding Verallia North America).
This announcement is the next logical step after the divestment of the North American business that was finalized in April 2014. A formal bidding process will be launched based on second-half earnings - which will represent a clear improvement on the first half - with the aim of reaching an agreement with a buyer before summer 2015, once the relevant works councils have been consulted.
Pierre-André de Chalendar, Chairman and Chief Executive Officer of Saint-Gobain, said:
"The two transactions - the plan for which we are announcing today - will accelerate the Group's strategic refocus on the design, production and distribution of innovative, high-performance solutions for habitat and industry.
The transactions meet the objectives we announced in November 2013 to raise the growth potential and reduce the capital intensity of our businesses, increase our presence in emerging countries and in the US, and expand our range of differentiated products supported by strong brands.
We are looking forward to working with Sika to enhance the growth potential of this excellent business."
About Saint-Gobain
Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building and high-performance materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2013 sales of EUR42 billion, Saint-Gobain operates in 64 countries and has nearly 190,000 employees. For more information about Saint-Gobain, please visit www.saint-gobain.com or download the new "Saint-Gobain Shareholder" application for tablets and smartphones.


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