TIDMCOD

RNS Number : 5180I

Compagnie de Saint-Gobain

14 December 2020

PRESS RELEASE

December 14, 2020

SAINT-GOBAIN STRENGTHENS ITS PARTNERSHIP WITH EL VOLCAN

IN LATIN AMERICA

Saint-Gobain and the El Volcan group, longstanding partners in Chile (in fiber cement, mortars, insulation and plasterboard), in Columbia (in insulation and waterproofing), and in Brazil (in plasterboard), have signed an agreement covering their operations in Peru (mortars and plasterboard) and in Argentina (plaster and plasterboard), together representing approximately EUR60 million in sales, 6 plants and 450 employees.

This transaction enables Saint-Gobain to strengthen its partnership with the El Volcan group by extending it into two new Latin American markets. In each of these countries, the Group will thus be able to unlock significant synergies, helping to sharpen its competitive edge and enhance its commercial offer for the region's construction markets, as it has already successfully done in Chile, Columbia and Brazil.

In Peru, Saint-Gobain will purchase El Volcan Soluciones Constructivas (around EUR20 million in sales), a company specialized in the production and sale of plasterboard. After this new entity has been merged with SG Productos para la Construccion, which specializes in the production and sale of mortars and has been wholly owned by the Saint-Gobain Group since December 2019, Saint-Gobain will retain a 55% stake in the new consolidated group and will sell the remaining 45% to the El Volcan group.

In Argentina, El Volcan will purchase from Saint-Gobain a 45% stake in the group including Tuyango, the historical plaster business, and Aswell, the plasterboard business acquired in the first quarter of 2019, with Saint-Gobain owning a 55% stake in this Argentine gypsum group.

This transaction is not subject to conditions and is expected to be finalized in January 2021.

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.

EUR42.6 billion in sales in 2019

Operates in 70 countries

More than 170,000 employees

For more information on Saint-Gobain

Visit www.saint-gobain.com

and follow us on Twitter @saintgobain

 
 
        Analyst/Investor relations                             Press relations 
                          +33 1 88 54                          +33 1 88 54 23 
                           29 77                                45 
                           +33 1 88 54                          +33 1 88 54 26 
 Vivien Dardel             19 09         Laurence Pernot        83 
  Floriana Michalowska     +33 1 88 54    Patricia Marie        +33 1 88 54 27 
  Christelle Gannage       15 49          Susanne Trabitzsch    96 
-----------------------  -------------  --------------------  ----------------

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQTIBRTMTMBMAM

(END) Dow Jones Newswires

December 14, 2020 02:06 ET (07:06 GMT)

Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Compagnie De Saint-gobain Charts.
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Compagnie De Saint-gobain Charts.