France: Divestment Strategy Saint-Gobain to Sell French Expanded Polystyrene Business
Saint-Gobain has agreed to divest its expanded polystyrene business in France to Hirsch Servo Group and Bewi Synbra Group. The EPS business comprises six industrial sites with around 240 employees.
France – Saint-Gobain, through its French subsidiary Placoplatre, has reached an agreement with Hirsch Servo Group and Bewi Synbra Group to sell its expanded polystyrene (EPS) business in France. Saint-Gobain previously sold its German EPS business to Hirsch. Saint-Gobain’s French EPS business has 6 industrial sites with around 240 employees and generated sales of around 78 million dollars in 2018.
The completion of this transaction is subject to the approval of the relevant competition authorities. The transaction should be effective by the end of 2019.This transaction is part of Saint-Gobain’s portfolio optimisation strategy within the framework of its new organisation.
Divestments completed or signed by the Group to date in order to enhance its growth and profitability profile represent sales of over 3.5 billion dollars. Saint-Gobain is continuing its divestment programme even though the initial target of over 3.3 billion dollar in sales divested by the end of the year has already been met.