Acquisition

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 €140 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.

 

€39.1 billion in sales in 2016

Operates in 67 countries

More than 170,000 employees

www.saint-gobain.com 
@saintgobain

 

 

 

Analyst/Investor relations

 

 

Media relations

Vivien Dardel

Florent Nouveau

Floriana Michalowska

 +33 1 47 62 44 29

 +33 1 47 62 30 93

 +33 1 47 62 35 98

 

Susanne Trabitzsch

 

 +33 1 47 62 43 25

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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