Compagnie De Saint-gobain Share Discussion Threads

[la forge] 25/5/2017 11:49

25/05/2017 | 12:04
UBS has in a note issued this Thursday raised its target price on Saint-Gobain from 42.5 to 48.5 euros, while confirming its 'neutral advice'.

The Swiss broker believes the group's objective to be a credible target of a mid-cycle margin of between 8.5% and 10%, which would be reached in 2021 and which implies structural improvements and profitability driven by lower costs.

UBS also welcomes the more diversified exposure of Saint-Gobain in Europe (excluding France) (26% of industrial assets), North America (15%) and Asia and The emerging countries (35%), a potentially favorable 'mix' with a view to improving margins.

[maywillow] 10/4/2017 04:59

google translation from french

09/04/2017 | 15:44

Zurich (awp) - The Burkard family and the French group Saint-Gobain recently extended the validity of the contract of sale of the participation of the first to the second until the end of 2017. But rumors circulate behind the scenes of which the "SonntagsZeitung" Is echoed: Burkard's heirs would be aware that selling their stake in Sika would be bad for them and for society. The Burkard family categorically denied this.

In a reaction broadcast Sunday afternoon, the Burkard family notes that the article in the Sunday newspaper reflects its intentions in a false way. It is not true that the Burkard family doubts the transaction with Saint-Gobain. On the contrary, it continues to believe that Saint-Gobain is the right partner for Sika and it wants to conclude as soon as possible the contract with the French group. The Burkard family does not back down and has no doubt about the transaction which is "very good" for Sika. She will not discuss alternatives with the board.

The fact is that the family was asked what its behavior would be if, contrary to expectation, the appeal against the decision of the Cantonal Court of Zug granting the Sika leadership was rejected. If necessary, the family reiterated that Schenker-Winkler Holging (SWH) intended to retain its majority voting rights and would defend all its rights.

Quoted in the family's release, Urs Burkard stressed that such attacks attempting to undermine the credibility of the family are to be expected before the Sika General Assembly. This does not detract from the fact that "we have found in Saint-Gobain a long-term partner for Sika. For us, the solutions targeted by the current board of directors are not taken into account."

"SonntagsZeitung" reported notes from Bernstein analyst Phil Roseberg, who would have had access to a confidential protocol from a handful of institutional investors at the end of February. Urs Burkard admitted that the family confessed that the structure of the deal with Saint-Gobain was inadequate and that it would destroy the company when Saint-Gobain took control in two years.

Mr. Burkard would have realized that a recovery after years of struggle against the operation would probably cause a deep crisis in Sika, according to the "SonntagsZeitung" which cites the notes of Bernstein's analyst.

The Crown family would now consider retaining its Sika share package, should the Federal Court block the sale to Saint-Gobain. A family spokesman confirmed to the weekly newspaper that the holding company Schenker-Winkler (SWH) would remain a reference shareholder with all the related shareholder rights should the legal proceedings be unfavorable.

Regarding the notes of Bernstein's analyst, a spokesman for the heiress's family felt that the passages in the text quoted constitute an interpretation which he can not approve of and does not in any way reflect the impressions felt during the discussions.

As a reminder: SWH and Saint-Gobain have been in conflict with the management of Sika since December 2014, when SWH agreed to sell its stake in Sika for CHF 2.75 billion. The company is the minority shareholders have been fighting since to prevent the French group from taking over Sika. At the end of October 2016, the Zug District Court ruled in favor of the management, but SWH filed an appeal.

Hr / rp

[grupo] 06/4/2017 11:20

PRESS RELEASE

April 6, 2017

Extension of the validity of the agreement between Saint-Gobain and the Burkard family relating to the sale of the shares of Schenker-Winkler Holding

Pursuant to the agreement between Saint-Gobain and the Burkard family relating to the sale of the shares of Schenker-Winkler Holding (SWH), which holds the majority of Sika voting rights, Saint-Gobain has exercised its option to extend the validity of the agreement until December 31, 2017. Saint-Gobain will then have the right to extend the agreement up until December 31, 2018.

This further extension of the sale agreement once again reflects the alignment between the Burkard family and Saint-Gobain and their unwavering determination. The transaction makes strategic, industrial and financial sense for Saint-Gobain and for Sika, for their employees, for their customers and for all of their shareholders.

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

[la forge] 25/2/2017 21:56

Impressive results
Sika remains juicy takeover target
By Matthew Allen

Business

...
Feb 24, 2017 - 11:52
Sika CEO Jan Jenisch is confident about the company's future

Sika CEO Jan Jenisch is confident about the company's future
(Keystone)
Swiss specialty chemicals manufacturer Sika demonstrated again why it is such an alluring target for a hostile takeover by posting a 22% rise in net profits for 2016 and upwardly revising its strategic targets for the next few years.

On Friday, Sika announced record annual sales of CHF5.7 billion (up 5.5% on 2015) and profits of CHF567 million. The family-owned business said it has already outstripped its 2018 growth targets.

However, the family descendants of Sika’s founder are still intent on selling their 53% voting rights to French industrial conglomerate Saint-Gobain. If they succeed in the contentious sale of their shares, Sika would fall under Saint-Gobain’s control.

The French heavyweight company, which posted full year sales of €39 billion (CHF41.5 billion), reiterated on Thursday that it still had its sights set on Sika. Contained in the notes of its financial statement, Saint-Gobain said it could wait until the end of 2018 for the resolution of an ongoing legal battle in Switzerland concerning the takeover.

The family owners of Sika, represented by their vehicle Schenker-Winkler Holding (SWH), is appealing a Zug court decision from October that upheld the Swiss company’s tactics in opposing the deal. Sika’s board are objecting to the takeover on the grounds that it was not consulted about negotiations and that a Saint-Gobain takeover would damage the company’s interests.

At a media presentation of Sika’s annual results on Thursday, company chief executive Jan Jenisch declined to comment on the takeover tussle.

Battle lines between Sika’s board and family owners will resume at the company’s annual general meeting on April 11. At the previous two AGMs, Sika’s board has controversially restricted SWH’s voting rights when it comes to electing directors. This tactic has blocked SWH from throwing out dissenting directors and replacing them with takeover-friendly personnel.

In the meantime, Sika keeps growing in all global markets, especially North America where sales rose 7.8% last year. Jenisch told journalists that the United States would be a key market after the election of President Donald Trump.

Sika could benefit from Trump’s infrastructure spending plans, including the proposed wall between the US and Mexico. “If Trump does actually build the wall, in whatever form it may take, then we would like to be involved,” Jenisch said.

[waldron] 19/12/2016 19:46

prochains événements

23 fév 2017
Résultats 2016
Résultats 2016, après bourse ("quiet period" commençant le 9 Janvier 2017)

26 avr 2017
Chiffre d'affaires du 1er trimestre 2017
Chiffre d'affaires du 1er trimestre 2017, après bourse ("quiet perod" commençant le 10 Avril 2017)

08 juin 2017 15:00
Assemblée Générale
Assemblée Générale, au Palais des Congrès (Porte Maillot)

27 juil 2017
Résultats du 1er semestre 2017
Résultats du 1er semestre 2017, après bourse ("quiet period" commençant le 10 Juillet 2017)

26 oct 2017
Chiffre d'affaires des neuf mois 2017
Chiffre d’affaires des neuf mois 2017, après bourse ("quiet period" commençant le 9 Octobre 2017)

[maywillow] 19/12/2016 19:37

French construction-materials company Cie. de Saint-Gobain SA, is finding it harder to take its money out of China.

The conglomerate--like all multinationals operating there--faces new delays in recent weeks as Chinese regulators impose tougher restrictions on the movement of capital out of the country to slow the yuan's decline.

"The process of authorization is going to become longer now," said Javier Gimeno, who heads Saint-Gobain's China operations. "The procedures will be controlled more strictly."

Nearly 7% of Saint-Gobain's world-wide group sales come from Asia and Oceania, a large part of that from China. The new rules are adding confusion and anxiety to a process that had been getting much easier over the past year, he said. The shift could cause some multinationals to rethink future investments in a country where once-sure payoffs are suddenly facing an uncertain return, analysts say.

As of late November, firms that want to exchange yuan into dollars in China now need approval for any transaction greater than $5 million. They also face tighter limits on amounts they can transfer in and out of bank accounts in China to affiliates in other countries, in a practice known as "cross-border sweeping."

"We hear a lot questions from corporates about whether they will be able to repatriate their money in the future," said Alexander Tietze, managing director at Acon Actienbank AG, a German bank that advises companies on Chinese investments. He expects foreign investments in China to slow, and cautioned that foreign takeovers or plans for new joint ventures could fail because of the controls.

With the Chinese economy struggling, multinationals have fewer opportunities to reinvest there, which makes it more difficult for them to do much with money trapped in China.

"A majority of clients are currently consolidating and restructuring their China business," said Bernd-Uwe Stucken, a lawyer with Pinsent Masons LLP in Shanghai. Some clients are closing down their business, with new investments being the exception to the rule, Mr. Stucken said.

Adding to the confusion: it is unclear where the limits are, because regulators haven't published official rule changes, but instead have given only informal guidance to banks, according to Daniel Blumen, partner at Treasury Alliance Group, a consulting firm.

Calls to the People's Bank of China weren't returned.

One official at a large multinational said that companies can now only sweep amounts out of the country equal to 30% of their Chinese assets. That is down from 100% under previous guidance, but those figures couldn't be independently confirmed.

One banker at a large European bank said transfers that once took between one to three days can now take more than a week to complete.

The European Chamber of Commerce in China, which represents more than 1,600 European companies, is aware of several cases in which payments by multinational firms are stuck in China awaiting new approvals, said Joerg Wuttke, president of the chamber. The new regulatory scrutiny is disruptive to company operations, and "exacerbates uncertainties regarding the predictability of China's investment environment," he said.

China's State Administration of Foreign Exchange, known as SAFE, and the People's Bank of China, are reacting to worrisome indicators for investment in the economy. In 2015, foreign firms and individuals poured roughly $250 billion into China, according to the World Bank. While that is almost double the amount in 2009, the recent trends have been negative. Last year marked a second-consecutive foreign-investment decline, and a 14% drop from 2013.

Meanwhile, the yuan has been weakening, and many multinationals have decided they would rather convert their funds to dollars and transfer them out in anticipation of further weakening, said Ker Gibbs, chairman of the American Chamber of Commerce in Shanghai.

China's currency is down roughly 7% so far this year and the capital flight has diminished the country's stockpile of foreign currency to $3.05 trillion at the end of November, from $3.23 trillion in January, according to the People's Bank of China.

The new measures affect small and medium-size firms more severely, as they usually operate with limited amounts of cash. Nevertheless, the new regulation is also hurting bigger firms, said Mikko Huotari, head of the China foreign relations research program at Mercator Institute for China Studies, a German think-tank.

The recent clampdown has whipsawed corporate expectations, said Caroline Owen, founder of RMB Global Advisors, a firm that advises companies on using the yuan.

"China said it is making all these changes to open up the border, but the message companies are now getting is that it's conditional," she said "When things get tough, China will just roll things back."

Write to Vipal Monga at [e-mail] and Nina Trentmann at [e-mail]



(END) Dow Jones Newswires

December 19, 2016 10:43 ET (15:43 GMT)

[grupo] 31/10/2016 13:53

ZURICH--Shares in Sika AG (SIK.EB) soared in early trading Monday after a Swiss court sided with the company's management in a dispute with its founding family, which wants to sell its stake to French rival Saint-Gobain SA (SGO.FR).

The ruling late Friday by a Swiss cantonal court in Zug prevents the Burkard family from selling its voting rights in Sika. The stake is held through the family's holding company, Schenker-Winkler Holding AG.

It marks the latest step in a drama that has dragged on for nearly two years between Sika and the company's founding family. The family's planned stake sale was opposed by a majority of Sika's board of directors, which took subsequent actions to block its ability to sell its stake.

"The court decision is in favor for Sika's Board, which is positive news for common Sika investors," analysts at Baader Helvea Equity Research said Monday.

Sika shares rose 15% at 0930 GMT Monday to 4,880 Swiss francs each ($4,935).

Schenker-Winkler Holding AG said late Friday it would appeal the decision.

The takeover bid sparked opposition because Saint-Gobain only proposed to purchase the 16% stake held by the Burkard family for 2.75 billion francs. That would give them control of Sika, because that stake carries 52% of the firm's voting rights.



-Write to Brian Blackstone at [e-mail]



(END) Dow Jones Newswires

October 31, 2016 06:02 ET (10:02 GMT)

[waldron] 29/10/2016 09:23

Saint-Gobain Takes Note of the Ruling by the Cantonal Court of Zug

News provided by
Saint-Gobain

Oct 28, 2016, 15:19 ET

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PARIS, October 28, 2016 /PRNewswire/ --

Saint-Gobain's board of directors takes note of the ruling by the Cantonal Court of Zug today in the court proceedings between Sika and its majority shareholder Schenker-Winkler Holding (SWH) which rejects the request of SWH to repeal the resolutions of the Annual General Meeting of Sika of 14 Avril 2015 for which the voting rights of SWH had been restricted.

Until today, all actions relating to the merits of the case initiated by Sika to contest Saint-Gobain's acquisition of a controlling stake in Sika had been rejected by the competent courts and authorities.

As SWH has stated its intention to appeal this decision to the High Court of Zug, Saint-Gobain is confident that the Swiss justice will, on appeal, restore the ownership rights of SWH, the Burkard family's holding company.

Saint-Gobain's board of directors affirms that it wishes to pursue this industrial project, which will create value for all stakeholders.

Saint-Gobain underlines that the agreement with the Burkard family is valid until June 2017 and can be extended by Saint-Gobain until December 2018.

ABOUT SAINT-GOBAIN IN SWITZERLAND

Saint-Gobain has been operating in Switzerland for 80 years and employs currently more than 2,000 employees at 11 industrial sites. In Switzerland, Saint-Gobain has expanded through successive acquisitions of family companies. The insulation company Isover, the plaster company Rigips, the mortars company Weber, the bathroom company Sanitas-Troesch and the fire-resistant glass company Vetrotech are Swiss subsidiaries of Saint-Gobain.

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.

€39.6 billion in sales in 2015

Present in 67 countries

More than 170,000 employees

hxxp://www.saint-gobain.com

@saintgobain

Analyst/Investor Relations
Gaetano Terrasini
[phone]

Vivien Dardel
[phone]

Florent Nouveau
[phone]

Press Relations
Susanne Trabitzsch
[phone]

SOURCE Saint-Gobain

[waldron] 05/5/2016 10:43

Europe’s bitterest takeover battle continues in Switzerland

02/05/2016 By Le News Leave a Comment

Brought to you by Investec Switzerland.

The main players in Europe’s most hostile bid situation are digging in. Saint-Gobain said last week that its bitterly contested plan to take control of building materials rival Sika was still a strategic priority — even though the Swiss target’s board and minority shareholders are prepared for a multi-year fight. There are peaceful ways out of the situation, if only emotion wasn’t involved.
© Zepherwind | Dreamstime.com

© Zepherwind | Dreamstime.com

Sika is controlled by Switzerland’s Burkard family through a 16 percent shareholding that carries super-voting rights. The family cut a deal in December 2014 to sell this stake to Paris-based Saint-Gobain for 2.75 billion Swiss francs ($2.86 billion). This was done in secret, despite the family being on Sika’s board.

Sika’s other shareholders are rightly livid. They get zero compensation for the change of control, despite provisions in the company’s statutes that seemed to protect them. They also face being stuck in a company controlled by a competitor, which would have a block on future M&A whether as buyer or seller.

Sika’s fight against Saint-Gobain drags on as Board renewed
Trading in Sika shares highlights Swiss risk

The Sika board is furious too and has promised to quit if the deal goes through. It has succeeded in halting the transaction for now by curbing the Burkards’ voting power, using certain clauses in Sika’s company rules. This move is now subject to litigation that could last years.

Suppose a judge restores the Burkard’s voting rights and the transaction can proceed, who wins? The Burkards achieve their aim of finding a new industrial owner for the stake, but at the expense of becoming an enemy of a company founded by their ancestors. Not a great legacy. As for Saint-Gobain, the deal doesn’t look so good anymore. Sika minorities are getting a special committee to oversee how Saint-Gobain runs the company — a thorn in its side.

If only a small number of Sika’s top brass carry out their threat to quit, the company’s performance will surely be at risk. Saint-Gobain will be tying up 2.5 billion euros of capital effectively just to receive dividends worth about 30 million euros on its stake, a meager 1.1 percent return.

Sika and some analysts want Saint-Gobain to walk away. However, Saint-Gobain owes it to its own shareholders to make the best of its hand. One option would be to re-work the deal as a takeover offer to the entire Sika register. After all, Saint-Gobain identified future savings and revenue gains of about 180 million euros from controlling Sika.

While these will be hard to realize, they could help fund a fair bid. They’re worth nearly 3 billion Swiss francs when valued using Sika’s 22 times earnings multiple and 24 percent tax rate. Saint-Gobain could perhaps find extra savings with Sika’s help. If so, it could justify offering a 30 percent premium above Sika’s current market value of 10.4 billion Swiss francs, a bid of 13.5 billion Swiss francs. It might need to do a share issue to finance it, but the logic would be there — especially if Sika’s approval was secured.

In this scenario, the Burkards would need a better price than the minorities, since their super-charged voting shares are worth more. For example, they could sell their holding for 2.4 billion Swiss francs, receiving a 50 percent premium, and the minorities sell theirs for 11.1 billion Swiss francs, roughly a 25 percent premium. True, the Burkards were being offered more by Saint-Gobain — but that deal came with stigma.

A cheaper and less risky option would be for Saint-Gobain to shrink the deal into a joint venture, and for the Burkards to sell their stake to Sika itself for, say, 2.4-2.75 billion Swiss francs. That would push Sika’s leverage to almost 3 times Ebitda — uncomfortable, but it could raise cash from non-family shareholders to bring that down.

The snag is that the mistrust between Sika and Burkards, which may have preceded the Saint-Gobain bid, seems to be so intense that it’s hard to see anyone sitting down for constructive talks yet. It may take the damage from a prolonged legal fight to eventually focus minds.

By Chris Hughes (Bloomberg)

[grupo guitarlumber] 02/4/2016 11:01

Apr 27 2016
2016 First Quarter Sales
After market closing (quiet period starting on April 8, 2016)
Jun 02 2016 3:00pm
Annual General Meeting (A.G.M.)
Palais des Congrès (Porte Maillot, Paris)
Jul 28 2016
Results for First-Half 2016
After market closing (quiet period starting on July 8, 2016)
Oct 27 2016
2016 Nine months sales
After market closing (quiet period starting on October 10, 2016)

[ariane] 27/2/2016 19:16

ZURICH—Construction and automotive chemicals maker Sika AG is preparing for the long haul as it seeks to fend off a hostile $2.78 billion takeover from French rival Saint-Gobain SA, the chairman of the Swiss company said Friday.

Baar-based Sika has been embroiled in a takeover battle for more than a year after Saint-Gobain offered to buy the controlling stake held by the company's founding family without making an offer to other shareholders, which include billionaire Bill Gates.

Chairman Paul Hä lg said Friday that Sika's position had been boosted by the company posting its highest ever annual profit.

"I am very pleased that these strong results support our defense of Sika against Saint-Gobain," said Mr. Hä lg, who the founding family have tried to replace.

He said the results showed that Sika's business hadn't been damaged by the "difficult situation" with Saint-Gobain, that Sika could be successful as an independent company, and didn't need Saint-Gobain.

"The way we have organized ourselves means we can work in this way for a long time," Mr. Hä lg said. Sika—whose products have been used in The Shard building in London—was prepared to continue resisting Saint-Gobain for as long as it takes, he said.

The takeover sparked fierce opposition because Paris-based Saint-Gobain has proposed to buy only the 16% stake held by Sika's founding Burkard family for 2.75 billion Swiss francs ($2.78 billion). Buying the family's investment vehicle gives control of Sika as it has 52% of the voting rights in the Swiss company.

Sika's management has responded by limiting the family's voting rights to 5%, a move that is now being disputed in Swiss courts with a decision expected this summer, although appeals could be lodged by either side.

Mr. Hä lg said Sika had made an alternative proposal to buy the Burkard family's stake, "but they don't want to see it."

"I am very confident with our legal arguments," he said. "I don't think that will be the end of it in the summer."

Earlier Friday, Sika reported a 5.4% rise in net profit for 2015 of 465.1 million Swiss francs ($469.8 million) in the 12 months to Dec. 31, up from 441.2 million francs a year earlier, beating analyst expectations.

Sales dipped 1.5% to 5.49 billion francs from 5.57 billion francs in 2014, as the strength of the Swiss currency took a toll, though were slightly ahead of analyst expectations for 5.47 billion francs.

A spokesman for Cascade Investment LLC, the investment vehicle controlled by Bill and Melinda Gates, said they continued to "fiercely oppose" a Saint-Gobain takeover.

"There needs to be a solution that fits all the investors and not just members of one family, and we would like Saint-Gobain to walk away," the spokesman said.

This looks unlikely with Saint-Gobain repeating its commitment to the deal.

"We are both patient and committed to completing the Sika-transaction," said Saint-Gobain CEO Pierre-André de Chalendar as the Paris company reported its full-year earnings on Thursday.

Write to John Revill at [e-mail]



(END) Dow Jones Newswires

February 26, 2016 08:35 ET (13:35 GMT)

[maywillow] 26/2/2016 09:11

Saint-Gobain Says Capital Gains, Weak Euro Boost 2015 Profit -- Update
25/02/2016 6:48pm
Dow Jones News

Saint Gobain (EU:SGO)
Intraday Stock Chart

Today : Friday 26 February 2016
Click Here for more Saint Gobain Charts.

By Matthew Dalton


PARIS--Construction materials firm Compagnie de Saint Gobain SA Thursday said net income last year rose 36% to 1.3 billion euros ($1.43 billion), fueled by a capital gain on the sale of its glass bottle business and the weaker euro.

Sales last year rose 3.3% to EUR39.6 billion, the French company said. The weakness of the euro relative to the U.S. dollar and sterling boosted sales 3%, it said.

Private-equity firm Apollo Global Management paid EUR2.95 billion for Verallia, Saint-Gobain's glass bottle business, adding EUR811 million to the company's profits last year.

The company said it is aiming to raise its operating income this year compared with 2015, when it was EUR2.6 billion, a 4.5% increase over 2014. It announced a full-year dividend of EUR1.24 per share, to be paid all in cash on June 8.

Sales in France were down sharply, the company said, because of the country's weak construction market. But sales elsewhere in Europe were strong. And emerging markets, except for Brazil and China, also performed well, Saint-Gobain said.

Write to Matthew Dalton at [e-mail]



(END) Dow Jones Newswires

February 25, 2016 13:33 ET (18:33 GMT)

[sarkasm] 02/9/2015 09:10

IDMCOD

RNS Number : 7761X

Compagnie de Saint-Gobain

01 September 2015

September 1, 2015

The Swiss Federal Administrative Court definitely confirms the validity of the clause in Sika's by-laws ("opt-out") exempting Saint-Gobain from making a mandatory public takeover bid

Saint-Gobain welcomes the final appeal ruling handed down by the Federal Administrative Court on 27 August, 2015, confirming the validity of the opt-out clause in Sika's by-laws and expressing no reservations about its application to Saint-Gobain's acquisition of all shares of Schenker--Winkler Holding (SWH). This is the fifth decision by a competent authority confirming this validity, following the decisions handed down by the Swiss Takeover Board (TOB) and FINMA earlier this year.

Once again, another key argument put forward by Sika's Board of Directors has collapsed.

In mid-July, FINMA had already confirmed that Saint-Gobain and the Burkard family did not form a group, as falsely claimed by Sika in order to reduce SWH's voting rights.

Similarly, at the end of July, the European Commission unconditionally authorized Saint-Gobain's acquisition of control over Sika. After conducting an investigation and extensive market tests to assess whether and in which areas Saint-Gobain and Sika currently compete, it concluded that both groups' activities are complementary and that they are not close competitors, including in the area of mortars, as claimed by Sika's board to fight against the transaction.

Regarding the state of competition between Sika and Saint-Gobain for mortars, the Commission indeed took note of what market participants confirmed: "Even though Weber also produces some specialist mortars, they are not perceived by customers as substitutes for Sika's mortars" (item 41, page 9 of the Commission's Decision). The European Commission, an independent and impartial authority, therefore concludes: "Sika and Saint-Gobain do not generally seem to be close competitors as their offerings are rather complementary in terms of quality and brand perception" (item 42, page 10 of the Commission decision).

All these elements further strengthen Saint-Gobain's determination to succeed in carrying out an industrial project that would allow Sika and Saint-Gobain to increase their sales and profitability, thereby creating value for all their shareholders and other stakeholders involved.

Underscoring this determination, Saint-Gobain and the Burkard family decided in April 2015, to extend the agreement's validity to June 30, 2016. On this date, Saint-Gobain will have the possibility of extending it for an additional period.

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 66 countries and has over 180,000 employees. For more information about Saint-Gobain, visit www.saint-gobain.com and the twitter account @saintgobain or download the "Saint-Gobain Shareholder" application for tablet and smartphone.



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(END) Dow Jones Newswires

September 02, 2015 02:15 ET (06:15 GMT)

[waldron] 24/6/2015 17:53

Source : Dow Jones News
Stock : Saint Gobain (SGO)
Quote : 42.79 -0.455 (-1.05%) @ 17:37
Saint Gobain share price Chart Trades Level2

Sika Boosted in Battle to Fend Off Saint-Gobain Takeover Bid--Update
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(Adds futher comment, detail)


By John Revill


ZURICH--Sika AG (SIK.VX) has strengthened it ranks in its battle to fend off the $3 billion hostile takeover bid from France's Saint-Gobain SA (SGO.FR) after a big U.S. asset manager bought a stake in the Swiss chemicals maker.

Memphis, Tenn.-based Southeastern Asset Management Inc. purchased a 3% holding in Baar-based Sika and said it "fully supports" the company's management and independent board of directors in their opposition to the takeover.

Southeastern, which has 25 billion euros ($28.1 billion) in assets under management, describes itself as an "engaged investor." It plans to retain a long-term stake in Sika and could increase its stake according to prices and market conditions, said Josh Shores, a managing partner at Southeastern.

"We will monitor the situation to see whether it will make sense to keep building our stake," said Mr. Shores.

Sika has been embroiled in a heated takeover battle since December, when Paris-based Saint-Gobain announced an agreement to pay 2.75 billion Swiss francs ($2.95 billion) for Schenker-Winkler Holding AG, the investment vehicle controlled by Sika's founding family.

The deal would have given the French construction materials company control of Sika because SWH holds 16% of the stock, but has 52% of the voting rights.

The move sparked opposition when Saint-Gobain said the offer wouldn't be extended to the other shareholders in Sika, which makes chemicals used in the construction and automotive industries. Shareholders, including the Bill & Melinda Gates Foundation Trust, Fidelity Worldwide Investment and Columbia Threadneedle Investments, have all raised concerns.

Sika's board has also opposed the takeover, saying it didn't make business sense and moved to limit the family's voting rights. This decision and others are being contested in court proceedings in Switzerland.

Southeastern said the sale of the family's 16% stake to Saint-Gobain without an offer to other shareholders disadvantaged all Sika shareholders, employees and customers.

The sale "should not proceed as currently structured," said Mr. Shores. "The only people who benefit from the offer, as it stands, is the founding family."

He said the current arrangement wasn't good for Saint-Gobain either as it could only get a dividend from its investment in Sika.

"We hope to drive a better outcome for all stakeholders, particularly minority shareholders," added Mr. Shores, who said Southeastern would now seek talks with Saint-Gobain to try to resolve the matter.

A Sika spokesman welcomed the investment and Southeastern's backing of the company's board. "This is good news they are joining other longstanding investors," he said.

A Saint-Gobain spokesman said the Southeastern purchase hadn't changed the situation and it still remained committed to taking control of Sika by buying SWH. "Southeastern has bought the shares on the open market from other shareholders, so it is another minority shareholder," said the spokesman.

SWH welcomed Southeastern's involvement, saying it was a sign foreign investors were welcome at Sika and the investor seems to believe in a positive performance for Sika's share price.

Write to John Revill at [e-mail]

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[waldron] 08/5/2015 08:52

JEUDI 4 JUIN
- 07h30 Taux de chômage au sens du BIT / T1
- 10h50 Adjudication d'OAT long terme ADJUOATLT

- Neopost NPOS.PA / CA du T1 (après Bourse)

Assemblées générales :
- Saint-Gobain SGOB.PA
- Bolloré BOLL.PA
- Havas HAVA.PA
- Vranken Pommery VRKP.PA

[waldron] 06/5/2015 18:01

TIDMCOD

RNS Number : 4047M

Compagnie de Saint-Gobain

06 May 2015

Paris, May 6, 2015

Saint-Gobain acquires ZenPure, a specialist in filtration products

Saint-Gobain has acquired ZenPure, a company specializing in the development and manufacture of filtration products, mainly for the life sciences sector.

Created in 2002, ZenPure designs custom filters manufactured in a state-of-the-art plant in Hangzhou, China. The products are marketed and sold across the globe and will bolster the range of fluid systems made by Saint-Gobain's Plastics business.

This acquisition is fully in line with the Group's strategy of strengthening its positions in high-performance solutions on fast-growing markets.

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 @saintgobainor download the "Saint-Gobain Shareholder" application for tablet and smartphone.

Worldwide leader in performance plastics, Saint-Gobain Performance Plastics is headquartered at Aurora, Ohio (United States). The company has 5,700 employees in 18 different countries and offers a wide range of products such as films, foams, coated fabrics, bearings, seals and fluid systems. For more information, visit www.saint-gobain.com and www.plastics.saint-gobain.com.



Analyst/Investor Relations Media Relations
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62 32 52
+33 1 47 +33 1 47
Gaetano Terrasini 62 44 29 62 30 48
Vivien Dardel +33 1 47 Sophie Chevallon +33 1 47
Marine Huet 62 30 93 Susanne Trabitzsch 62 43 25
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This information is provided by RNS

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END

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[waldron] 28/4/2015 17:07

By Noemie Bisserbe

PARIS--Compagnie de Saint-Gobain SA's (SGO.FR) revenue slid 0.2% in the first-quarter, as strong-emerging market demand for building materials failed to offset sluggish growth in Western Europe.

Saint-Gobain said Tuesday its sales fell to 9.86 billion euros ($10.72 billion) in the three months to March 31 from EUR9.87 billion in the year-earlier period. Discounting the effects of foreign-exchange fluctuations and mergers and acquisitions, sales fell 1.2%, the company said.

Analysts polled by FactSet expected sales of EUR9.89 billion.

Saint-Gobain said it still expected operating income this year to be higher than in 2014, excluding the effects of currency fluctuations.

Write to Noemie Bisserbe at [e-mail]

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