Compagnie de Saint-Gobain Acquisition
June 14 2017 - 12:37PM
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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
Analyst/Investor relations Media relations
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+33 1 47
Vivien Dardel 62 30 93
Florent Nouveau +33 1 47 +33 1 47
Floriana Michalowska 62 35 98 Susanne Trabitzsch 62 43 25
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This information is provided by RNS
The company news service from the London Stock Exchange
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June 14, 2017 12:22 ET (16:22 GMT)
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