COD Compagnie De Saint-gobain

TIDMCOD

RNS Number : 6183X

Compagnie de Saint-Gobain

20 December 2019

PRESS RELEASE

December 20, 2019

SAINT-GOBAIN COMPLETES THE DIVESTMENT OF ITS CONSTRUCTION GLASS BUSINESS IN SOUTH KOREA

Saint-Gobain completed the sale of its construction glass activity in South Korea (Hankuk Glass Industries) to Glenwood Private Equity on December 19, 2019.

The business generated revenues of around EUR200 million and operating income of EUR10 million in 2018. The divestment was based on an enterprise value of around EUR240 million.

This transaction is part of Saint-Gobain's portfolio optimization strategy within the framework of its new organization. Divestments completed or signed by the Group to date in order to enhance its growth and profitability profile represent sales of around EUR3.3 billion. Saint-Gobain is continuing its divestment program even though the initial target of over EUR3 billion in sales divested by the end of the year has already been met.

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.

EUR41.8 billion in sales in 2018

Operations in 68 countries

More than 180,000 employees

For more information about Saint-Gobain

Visit www.saint-gobain.com

and follow us on Twitter @saintgobain

 
 
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December 20, 2019 02:08 ET (07:08 GMT)

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