COVIPOR Glass Processing Business Sold by Saint-Gobain in Portugal Deal

COVIPOR Glass Processing Business Sold by Saint-Gobain in Portugal Deal

(IN BRIEF) Saint-Gobain, a global building materials company, has announced the sale of its glass processing business, COVIPOR, in Portugal to PNI Portugal & Permanente SA. COVIPOR, which generated sales of approximately €20 million in 2022 and employs around 100 people in two industrial locations near Porto, will be divested as part of Saint-Gobain’s ongoing business profile optimization strategy. The transaction is subject to clearance from the Portuguese antitrust authority and is expected to close in the third quarter of 2023, aligning with Saint-Gobain’s “Grow & Impact” strategic plan.

(PRESS RELEASE) COURBEVOIE, 4-Jul-2023 — /EuropaWire/ — Saint-Gobain has signed a binding agreement for the sale of COVIPOR, its glass processing business in Portugal, to PNI Portugal & Permanente SA.

COVIPOR generated sales of around €20 million in 2022, with two industrial locations in the Porto area employing approximately 100 people.

Closing of this transaction is subject to Portuguese antitrust authority clearance and expected in the third quarter of 2023.

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

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

Media Contact:

Analyst/ Investor relations:

Vivien Dardel: +33 1 88 54 29 77
Floriana Michalowska: +33 1 88 54 19 09
Alix Sicaud: +33 1 88 54 38 70
James Weston: +33 1 88 54 01 24

Press relations:

Patricia Marie: +33 1 88 54 26 83
Laure Bencheikh: +33 1 88 54 26 38
Flavio Bornancin-Tomasella: +33 1 88 54 27 96

SOURCE: Saint-Gobain