SAINT-GOBAIN has entered into negotiations to sell its PAM building business which manufactures sanitary and rainwater drainage solutions.
The sale talks are with Aldebaran, a French institutional investment fund, with a minority stake being purchased by Bpifrance, the French Public Investment Bank.
PAM Building Division
PAM Building has two production plants, in Telford Shropshire and in Bayard, in Haute-Marne, France. The company employs 400 people and generated revenue of around €110 million in 2023.
The sale would allow Saint-Gobain PAM to focus on its historical core business, the production and delivery of complete water transport and supply networks.
This project has been presented to the company’s social partners as part of the information and consultation process prior to the sale.
The transaction is expected to complete by end of 2024.
The divestment project is part of Saint-Gobain’s ongoing business optimisation strategy, part of its ‘Grow & Impact’ plan.
Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets.
As the manufacturer of Celotex insulation, it received excoriating condemnation in last week’s Grenfell Inquiry report. Since the Grenfell disaster, the company sold its Celotex brand to Soprema.
Source: Roofing Today
