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SAINT-GOBAIN'S ACQUISITIONS IN 2002:
Expenditure of EUR 232 million for additional sales of about EUR 546 million
The purpose of this press release is to recapitulate the acquisitions (not including buybacks of Compagnie de Saint-Gobain stock) carried out by the Group in 2002, particularly those which were not specifically announced at the time. The sales figures provided below are based on estimated full-year data for 2002.
The Group continued to pursue its external growth strategy in 2002, through 56 transactions, most of them bolt-on acquisitions in Building Materials Distribution. These acquisitions represented an aggregate investment in securities or assets of EUR 232 million, for additional full-year sales of approximately EUR 546 million. The net debt acquired in connection with these transactions totaled EUR 19 million.
In line with the Group's development strategy, the majority of these acquisitions concerned the high-growth businesses, Building Materials Distribution as well as Ceramics and Composites. Investment in these two areas totaled EUR 198 million, for additional full-year sales of EUR 486 million.
The Group also bought out all minority interests in its listed subsidiary Lapeyre, for a total outlay of EUR 350 million, as well as most minority shareholders of Construmega in Brazil, which is also part of the Building Materials Distribution division.
| • Building Materials Distribution: acquisitions of EUR 117 million for additional annual sales of EUR 382 million |
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In 2002, the Division continued its external growth through 41 bolt-on acquisitions in France, the United Kingdom, Germany and the Netherlands.
- France:
The Point P group carried out 24 external growth operations, adding EUR 186 million to its full-year sales.
Point P acquired the following companies, which brought 56 sales outlets:
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- several general distributors (total sales acquired came to EUR 100 million), among them CBA in Southwestern France, Lexcellent and Bial Weimerkirsch (Eastern France), Rosset (region of Lyon) and Audouard (South);
- specialized traders (total sales acquired totaling EUR 86 million), such as:
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• in Interior Decoration: Isopar (mainly in the Paris area) and Négoce de l’équipement (Paris area)
• in Civil Engineering/Sealing Materials: Comptoir Matériaux Modernes (Paris area)
• in Heavy Construction and Ready-mixed Concrete: BCIO (Brittany, Western France), Benez (Central France). |
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- United Kingdom:
Drawing upon the Point P business model, Saint Gobain Building Distribution carried out several bolt-on acquisitions in the United Kingdom. Ten companies were bought in 2002, representing full-year sales of EUR 93 million at 25 sales outlets.
These businesses are mainly specialized traders: Merton Timber and Morgan Timber & Boards in Wood/Paneling/Carpentry, Ceramic Tile Distributors in Ceramic Tiling, Neville Lumb & Cowen Baratt in Plumbing & Heating. A few general distributors were also acquired, among them EGN Services, North Staffs Builders’ Merchants.
- Netherlands and Germany:
In the Netherlands, Raab Karcher took over Van Ditshuizen, a general distributor with sales of EUR 36 million and four sales centers.
In Germany, 6 external growth transactions brought in sales of EUR 67 million and 11 outlets, with the general distributors Pellen and Weingart as well as Terdenge & Möller, a company specialized in ceramic tiles. Five outlets were also purchased from the Mühl group.
| • Ceramics and Composites: acquisitions of EUR 81 million for additional annual sales of EUR 104 million |
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- In Ceramics & Plastics: EUR 18 million invested
The Division continued to bolster its positions, particularly in emerging countries, with the following highlights:
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- In Venezuela, the purchase of the assets of Silicon Carbide de Venezuela was finalized.
- In India, Palakkad-based CUMI Universal sold its fused-cast ceramics plant to the Division.
- In Germany, the Division bought the MWK group's Silicon Carbide operations,
which generate sales of EUR 13 million. |
- In Reinforcements: EUR 63 million invested
The Group signed an agreement giving it a majority stake in a division of Nippon Sheet Glass in Japan, bringing EUR 78 million in annual sales.
| • Historic businesses: acquisitions of EUR 34 million for additional annual sales of EUR 60 million |
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For the historic businesses, acquisitions are used to extend the Group's reach in emerging countries and/or in downstream operations, as required by the strategic focuses that have been set out by the Group.
The main transactions have concerned the following divisions:
- Flat Glass: EUR 10 million invested
In the United Kingdom, Saint-Gobain, through its Solaglas subsidiary, acquired Windowcare UK, a market leader in the field of window frame repairs, working with PVC, aluminum and wood materials.
- Building Materials: EUR 18 million invested
Saint-Gobain Weber took over Batec in Romania, a company specialized in glues for ceramic tiling. In the Netherlands, Saint-Gobain Weber acquired Metzger, which produces powders.
In the United States, CertainTeed brought into its fold the California-based windows manufacturer Marshall Vinyl Windows.
March 20, 2003 |
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