TIDMCOD

RNS Number : 2855Y

Compagnie de Saint-Gobain

11 May 2021

PRESS RELEASE

May 11, 2021

SAINT-GOBAIN ENTERS INTO EXCLUSIVE NEGOTIATIONS WITH chausson FOR THE ACQUISITION OF Panofrance, a specialist distributor of TIMBER AND PANELS

Saint-Gobain announces that it has entered into exclusive negotiations with the Chausson Group with a view to acquiring the French company Panofrance, a specialist distributor of timber and panels for the construction and furnishing industries.

Panofrance had sales of approximately EUR160 million in 2020, around 30 points-of-sale throughout France and more than 600 employees. It will complement Dispano, a Saint-Gobain subsidiary specialized in the trade of timber products and by-products with 46 points-of-sale in France and sales of EUR380 million in 2020.

This acquisition will allow Saint-Gobain to increase the density of its geographical footprint on the fast-growing market of timber-based building systems providing lightweight and rapid-implementation solutions. The strongly favorable outlook for timber products is underpinned by the new RE2020 environmental regulation in France, set to come into force on January 1, 2022, and by upbeat momentum on markets for renovation based on timber-frame extensions and building elevations. Thanks to its acquired purchasing experience and the strict implementation of its timber policy, Saint-Gobain can ensure the development of an offer incorporating timber from sustainably managed forests.

Following the recent acquisition of timber construction specialist Brüggemann in Germany, Saint-Gobain therefore continues to grow on this dynamic lightweight construction market thanks to its solutions for sustainability and performance.

Following completion of the information and consultation procedure with the employee representative bodies, and subject to the approval of the relevant competition authorities, this project is expected to be finalized in the fourth quarter of 2021.

ABOUT SAINT-GOBAIN

Saint-Gobain designs, manufactures and distributes materials and solutions for the construction, mobility, healthcare and other industrial application markets. Developed through a continuous innovation process, they can be found everywhere in our living places and daily life, providing wellbeing, performance and safety, while addressing the challenges of sustainable construction, resource efficiency and the fight against climate change. This strategy of responsible growth is guided by the Saint-Gobain purpose, "MAKING THE WORLD A BETTER HOME", which responds to the shared ambition of all the women and men in the Group to act every day to make the world a more beautiful and sustainable place to live in .

EUR38.1 billion in sales in 2020

More than 167,000 employees, located in 70 countries

Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain,

   visit www.saint-gobain.com and follow us on Twitter   @saintgobain 
 
 
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May 11, 2021 12:09 ET (16:09 GMT)