Saint-Gobain Sell Reinforcement and Composites Business to Owens Corning
29 July 2007
29 July 2007
Saint-Gobain has signed definitive agreements to sell its Reinforcements and Composites activities to Owens Corning.
Total consideration (excluding Saint-Gobain US reinforcement fibre activities which are to be sold independently) amounts to $640 million. The overall 2006 turnover of the activities sold to Owens Corning is EUR715 million. The closure of the transaction is scheduled by the end of 2007, subject to the agreement of relevant competition authorities.
Saint-Gobain's Textile Solutions business, serving mainly construction markets, will remain part of the Group's High-Performance Materials sector.
Cobra International is celebrating its 40th year and has commissioned a book that will look at 40 key projects and 40 key people that were integral to the company’s growth. ‘Klaus Simmer and The King Cobra: A breakthrough in surfboard design and production technology’ is an extract article from this book and a breakthrough composites product for Cobra, establishing its presence as a manufacturer of high performance windsurf boards and creating global visibility for the Cobra brand.
Technical Fibre Products will showcase its Optiveil nonwovens at China Composites Expo in Shanghai on 5-7 September.
