Compagnie de Saint-Gobain
17 July 2007
Paris, July 17, 2007
Press release
Advanced discussions on a project to sell the Reinforcement and Composites
business to Owens Corning
Saint-Gobain announces that discussions regarding the plan to merge its
Reinforcements and Composites activities (part of the entity Vetrotex) with the
Reinforcements business of Owens Corning, are now focusing on a sale project of
Saint-Gobain's businesses to Owens Corning, rather than on the creation of a
jointly-owned company which had been signed by the two groups on February 20,
2007 (cf. Saint-Gobain Press release of February 21, 2007 and July 27, 2006).
Saint-Gobain has retained its US reinforcement fiber activities based at Wichita
Falls, Texas, which will be sold independently of the entities sold to Owens
Corning.
In response to the concerns voiced by the European Commission, Owens Corning has
today made public its plans to divest its industrial entities in Belgium and
Norway.
A consultation process is underway with the relevant employee representative
bodies.
The closure of this transaction would be scheduled by the end of 2007, and would
be subject to the agreement of the competition authorities in Europe.
As initially planned, Saint-Gobain's Textile Solutions business, serving mainly
construction markets, will remain part of the Group's High-Performance Materials
sector.
***
Investor Relations Department
Mrs Florence TRIOU-TEIXEIRA Tel.: +33 1 47 62 45 19
Mr Alexandre ETUY Tel.: +33 1 47 62 37 15
Fax: +33 1 47 62 50 62
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