Saint-Gobain: divestment of pipe business in China

(CercleFinance.com) - Saint-Gobain has announced an agreement concerning PAM China, to sell 67% of its pipe business in China to a consortium led by local management.


The deal, which is expected to close this summer, values the business at around 100 million euros.

PAM China has a production plant in Ma'anshan, in the east of the country. It has nearly 1,100 employees and generated sales of 170 million euros in 2020 with an operating profit of 9 million euros.

This transaction involves Saint-Gobain's transfer of control of PAM China, while maintaining its link with the pipe business in Europe through a long-term industrial partnership.


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