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8 Jan 2019 07:12
PRESS RELEASE
January 8, 2019
SAINT-GOBAIN Enters into Exclusive Discussions
for the sale of its Silicon Carbide Division
Saint-Gobain moved another step forward in the acceleration of its portfolio management, reaching an exclusive agreement with private equity firm OpenGate Capital after having received a purchase offer to acquire the Group's silicon carbide division. This firm and binding offer is not subject to any financing conditions.
Saint-Gobain is a worldwide leader in silicon carbide grains and powders with annual sales of around €120 million.
The transaction envisaged will be finalized after the usual information and consultation procedures with the relevant employee representative bodies of Saint-Gobain. It is subject to the approval of the competition authorities and should be effective in the first half of 2019.
This transaction is part of Saint-Gobain's announced objective to divest businesses representing sales of at least €3 billion by the end of 2019.
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.
€40.8 billion in sales in 2017
Operates in 67 countries
More than 179,000 employees
www.saint-gobain.com @saintgobain
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