PARIS - Saint-Gobain, a global leader in sustainable construction, has successfully completed the divestment of its subsidiary PAM Building, which specializes in sanitary and rainwater drainage solutions, on November 29, 2024. The business was acquired by Aldebaran, a French institutional investment fund, with a minority stake being taken by Bpifrance, the French Public Investment Bank.
PAM Building, which operates two production facilities in Bayard, France, and Telford, United Kingdom (TADAWUL:4280), employs 400 individuals and reported revenues of approximately €110 million in 2023. This sale is part of Saint-Gobain's strategy to optimize its business profile in alignment with its "Grow & Impact" plan, which focuses on growth and impact in its operations.
The divestment reflects Saint-Gobain's ongoing efforts to streamline its portfolio and concentrate on its core activities, which include the design, manufacture, and distribution of materials and services for the construction and industrial markets. Saint-Gobain's integrated solutions are aimed at renovating public and private buildings, supporting light construction, and contributing to the decarbonization of construction and industry. These solutions are created through a continuous innovation process that emphasizes sustainability and performance.
Saint-Gobain, with €47.9 billion in sales in 2023, operates in 76 countries and employs 160,000 people worldwide. The company is committed to making a positive impact on the environment and has pledged to achieve net zero carbon emissions by 2050.
This divestiture is a strategic move for Saint-Gobain as it reshapes its portfolio to better reflect its core values and long-term objectives. The transaction is based on a press release statement and further information about Saint-Gobain can be found on their official website.
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