REG - Compagnie St-Gobain - Disposal

Compagnie de Saint Gobain SAAnnouncement

06/12/2023 18:15

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RNS Number : 9412V  Compagnie de Saint-Gobain  06 December 2023

 

SAINT-GOBAIN has REACHED AN AGREEMENT for the sale of ITS PIR INSULATION
ACTIVITY IN THE UK

 

Saint-Gobain has reached an agreement with SOPREMA for the sale of a majority
stake in its polyisocyanurate insulation (PIR) activity in the United Kingdom
under the Celotex brand.

This transaction enables Saint-Gobain to continue refining its portfolio and
focus its efforts in a manner that best serves its customers. SOPREMA, which
already manufactures and sells PIR insulation across Europe, will be best
positioned to support the Celotex business in its next stage of growth.

Celotex operates two manufacturing facilities in Hadleigh, Suffolk and
Eggborough, Yorkshire and employs 155 people.

The completion of the transaction is expected to be finalized in early 2024.

Celotex's assets will be transferred to a new standalone company, which will
be 75% owned by SOPREMA once the transaction is complete. Saint-Gobain will
retain a 25% minority stake in this new company for the time needed to ensure
a smooth transition.

This transaction is part of Saint-Gobain's continued business profile
optimization strategy, in line with the "Grow & Impact" strategic plan.

 

 

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".
 
€51.2 billion in sales in 2022
168,000 employees, locations in 75 countries
Committed to achieving Carbon Neutrality by 2050

 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  Flavio Bornancin-Tomasella :   +33 1 88 54 27 96
 James Weston:          +33 1 88 54 01 24

 
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