Saint-Gobain: sale of Advanced Ceramics

French glass major Saint-Gobain has announced that it has signed a USD 245 million agreement to sell its Advanced Ceramics business to US-based technical ceramics and semiconductor maker CoorsTek, Inc…

French glass major Saint-Gobain has announced that it has signed a USD 245 million agreement to sell its Advanced Ceramics business to US-based technical ceramics and semiconductor maker CoorsTek, Inc. The deal, which is expected to be effective as of 31 July 2010, includes facilities of Saint-Gobain“s Advanced Ceramics in Europe, North America, South America and Asia. “We are very excited about our addition of the Saint-Gobain Advanced Ceramics business. This acquisition will significantly benefit our customers by expanding our material and processing capabilities, product offerings, and geographical reach”, said John Coors, president and CEO CoorsTek. Saint-Gobain recently sold its cosmetic glass manufacturing business to French equity firms Cognetas and Sagard, and added British plastic board maker BPB plc. and mortar business company Maxit to its portfolio. In 2009, Saint-Gobain“s Advanced Ceramics business, which employs more than 1,100 employees spread out over 14 sites in the Americas, Europe, and Asia, reported sales of EUR 135 million.