A spokeswoman for Saint-Gobain has announced that the French glass group is to sell two units of Carborundum, the company it has purchased from British Petroleum Co. Plc., which generate around FFr 20…
A spokeswoman for Saint-Gobain has announced that the French glass group is to sell two units of Carborundum, the company it has purchased from British Petroleum Co. Plc., which generate around FFr 200 million in annual sales. Saint-Gobain said that its purchase of Carborundum had been completed in February 1996 following approvals from anti-trust authorities in Europe and in the US. The French firm became the official owners of Carborundum with the obligation to sell two activities by early 1997. The units in question produce ceramics for glass oven linings and ceramic gas lighting fixtures. They represent 20% of Carborundum“s activities of FFr 1 billion. Carborundum generates 30% of its turnover in the US and the rest in other countries, including Brazil, Japan, Germany and Britain. The terms of the purchase were not disclosed. “This acquisition allows Saint-Gobain to expand its range of ceramics for industrial applications and to reinforce its international business,” the company said in a statement.