REG - Compagnie St-Gobain - Acquisition

Compagnie de Saint Gobain SAAnnouncement

09/07/2024 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240709:nRSI6511Va&default-theme=true

RNS Number : 6511V  Compagnie de Saint-Gobain  09 July 2024

Saint-gobain COMPLETES THE acquisition of CSR in australia

 

Saint-Gobain today announces that it has completed the acquisition of CSR
Limited ("CSR"), establishing a strong presence in the attractive Australian
construction market.

 

CSR is a leading player in building materials in Australia, consisting
principally of Building Products (A$1.9bn in sales and an EBITDA margin of
c.18% for the fiscal year ending March 31, 2024), with some of Australia's
most trusted and iconic brands. The acquisition fits extremely well with
Saint-Gobain's worldwide offer on light and sustainable construction.

 

Benoit Bazin, Chairman and Chief Executive Officer of Saint-Gobain,
commented:

"We are delighted with the timely completion of this major transaction in
Australia's attractive high-growth construction market which is underpinned by
solid macroeconomic fundamentals. The acquisition will strengthen our presence
in the fast-growing Asia-Pacific markets and is fully aligned with our "Grow
& Impact" strategy and our worldwide leadership in light and sustainable
construction. We see a tremendous opportunity to build on CSR's strengths to
further accelerate its growth in the region.

I am very impressed by the CSR teams' expertise, know-how, and commitment at
every level. It is truly a great pleasure to officially welcome them all into
Saint-Gobain."

 

Management update

Following the delisting of CSR on completion of the transaction, Julie Coates
has decided to step away from her role as Managing Director and Chief
Executive Officer. Julie will continue to serve as a member of the newly
established CSR board to ensure a smooth and successful transition.
Saint-Gobain is pleased to announce that Paul Dalton, currently CSR Executive
General Manager, Interior Systems, will be appointed Chief Executive Officer
at the time of delisting.

 

Benoit Bazin stated:

"I would like to take this opportunity to thank Julie for her exceptional
contribution and commitment to CSR and to congratulate her for the impressive
journey of CSR under her leadership both strategically and in terms of
financial results. Paul's appointment as Chief Executive Officer, leading the
existing highly-experienced management team, bodes very well for the long-term
success of the business, and the continuity of culture, performance and
customer-focus as it enters this exciting new chapter. I commend Julie and the
CSR Board for having such a seamless succession plan in place."

 

Julie Coates, CSR Chief Executive Officer, commented:

"With the transaction now complete, I've made the decision that the time is
right for me to hand over the privilege of leading this wonderful
business. CSR shares strong cultural and strategic alignment with
Saint-Gobain and will now benefit from the shared best practice and
resources of a global leader in our industry, notably in terms of growth,
innovation, operational excellence and sustainability. I look forward to
following the successful journey in my continuing role on the newly
established CSR board."

 

Paul Dalton, CSR, Chief Executive Officer elect, commented:

"It is a great honour to be asked to lead this wonderful CSR team and
organisation. Having already spent more than 30 years of my professional life
in the construction industry, I look forward to our continued strong
profitable growth in the building solutions market in Australia and New
Zealand, under the Saint-Gobain umbrella. I would like to
thank Julie Coates for her incredible leadership. I'm thrilled by this
deal with Saint-Gobain and all the potential it will unleash and look forward
to working closely with the Saint-Gobain team as we continue to innovate and
deliver for our customers, our team, and our business."

About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".
 
€47.9 billion in sales in 2023
160,000 employees, locations in 76 countries

Committed to achieving net zero carbon emissions by 2050

 
For more information about Saint-Gobain, visit
www.saint-gobain.com (http://www.saint-gobain.com/)
 and follow us on  X
@saintgobain (https://twitter.com/saintgobain)

 Analyst/investor relations                Press relations
 Vivien Dardel:         +33 1 88 54 29 77  Patricia Marie:   +33 1 88 54 26 83
 Floriana Michalowska:  +33 1 88 54 19 09  Laure Bencheikh:  +33 1 88 54 26 38
 Alix Sicaud:           +33 1 88 54 38 70  Yanice Biyogo:                   +33 1 88 54 27 96
 James Weston:          +33 1 88 54 01 24    Erica Borgelt (Aus):           +61 413 732 951

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQRLMFTMTMMMAI