Saint-Gobain divests its construction glass activity in South Korea

Saint-Gobain completed the sale of its construction glass activity in South Korea (Hankuk Glass Industries) to Glenwood Private Equity

Hankuk Glass Industries business generated revenues of around 200 million EUR and operating income of 10 million EUR in 2018. The divestment was based on an enterprise value of around 240 million EUR.

This transaction is part of Saint-Gobain’s portfolio optimization strategy within the framework of its new organization. Divestments completed or signed by the Group to date in order to enhance its growth and profitability profile represent sales of around 3.3 billion EUR.

Saint-Gobain is continuing its divestment program even though the initial target of over 3 billion EUR in sales divested by the end of the year has already been met.