Last checked at 15 Sep 2015 07:59
September 15, 2015
Sale of Norandex
Saint-Gobain has signed an agreement to sell its distribution business (Norandex) in the US to ABC Supply Co., Inc., the leading distributor of roofing and siding products.
Norandex has a network of 103 branches specializing in windows, doors, siding and roofing products. It has 770 employees and generated sales of US$ 393 million in 2014.
This transaction is in line with Saint-Gobain Building Distribution's strategy of optimizing its portfolio by divesting non-core assets and focusing on bolstering its leading positions in Europe and Brazil.
The transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and is expected to close in the fourth quarter 2015.
ABOUT SAINT-GOBAIN
In 2015, Saint-Gobain is celebrating its 350th anniversary, 350 reasons to believe in the future. Backed by its experience and its capacity to continuously innovate, Saint-Gobain, the world leader in the habitat and construction market, designs, manufactures and distributes high-performance and building materials providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2014 sales of €41 billion, Saint-Gobain operates in 66 countries and has over 180,000 employees. For more information about Saint-Gobain, visit www.saint-gobain.com and the twitter account @saintgobain or download the "Saint-Gobain Shareholder" application for tablet and smartphone.
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