Saint Gobain Or Regulatory News (COD)

2 Nov 2007 08:49

Compagnie de Saint-Gobain02 November 2007 November 1st, 2007 Saint-Gobain completes the sale of its Reinforcements and Composites businesses to Owens Corning Saint-Gobain announces the completion of the sale of its Reinforcements andComposites businesses (excluding US fiber reinforcement activities) to OwensCorning effective November 1, 2007, following the approval of the Europeancompetition authorities. Originally set to take place in two phases, the firstof which was to be a 60%-40% joint venture with Owens Corning, the divestmentwas accelerated in July 2007, resulting in the sale of the entire businesses ina single transaction. As previously mentioned, the Textile Solutions business, mainly servingconstruction markets and posting sales of €520 million in 2006, will remain partof Saint-Gobain's High-Performance Materials sector. This transaction, with an enterprise value of $640 million, is part of theSaint-Gobain Group's strategic plan to refocus on construction markets, whichbegan with the acquisition of British Plasterboard in December 2005 and wasfollowed by the sale of Calmar (plastic dispensing and spraying systems) for$745 million in April 2006 and Desjonqueres (specialty bottles) for €690 millionin March 2007. **************** Investor Relations Department Florence Triou-Teixeira Tel.: +33 1 47 62 45 19Alexandre Etuy Tel.: +33 1 47 62 37 15 Fax: +33 1 47 62 50 62 This information is provided by RNS The company news service from the London Stock Exchange