TIDMCOD

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".

EUR51.2 billion in sales in 2022

168,000 employees, locations in 75 countries

Committed to achieving Carbon Neutrality by 2050

 
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For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on X @ saintgobain

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December 06, 2023 13:05 ET (18:05 GMT)

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