Compagnie de Saint-Gobain
18 July 2007
press release
July 18, 2007
Norandex Acquisition in the United States
Saint-Gobain has announced the acquisition of the Norandex group in the United
States from Owens Corning. Norandex has 2,200 employees and delivered sales of
$866 million in 2006 split into two activities: building materials distribution
and vinyl siding manufacturing.
The Norandex merchant brand, which will be integrated within Saint-Gobain's
Building Distribution sector, boasts a network of 153 specialized distribution
branches dealing mainly in exterior building products (siding, doors, windows,
etc.). Norandex ranks among the top 15 US building merchants in a highly
fragmented market.
Norandex has also 3 plants used to manufacture vinyl siding, which are
distributed by its own branches as well as by other independent distributors.
The Norandex plants will be consolidated with the existing production facilities
operated by the exterior building solutions division of Saint-Gobain's
Construction Products sector in the United States, and will enable the Group to
unlock significant synergies.
The completion of this transaction, which values Norandex at an enterprise value
of $343 million (net of cash tax benefits), is subject to the agreement of the
competition authorities in the United States.
In 2006, Saint-Gobain's Building Distribution sector delivered sales of €17.6
billion. Its 67,000 employees operate a network of almost 4,000 sales outlets in
24 countries. It is currently Europe's leading distributor of building materials
and the world's number one distributor of tiles. Its main brands are Point.P,
Jewson, Raab Karcher, Dahl, Lapeyre la maison... and La Plateforme du
Batiment.
Investor Relations Department
Florence Triou-Teixeira Tel.: +33 1 47 62 45 19
Alexandre Etuy Tel.: +33 1 47 62 37 15
Fax : +33 1 47 62 50 62
This information is provided by RNS
The company news service from the London Stock Exchange
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