COURBEVOIE, France, June 28, 2010 /PRNewswire-FirstCall/ -- Saint-Gobain has signed an agreement for the sale of its "Advanced Ceramics" business to the US company CoorsTek, for a total (enterprise value) of 245 million US dollars (about 200 million euros). Manufactured and marketed by Saint-Gobain's Ceramic Materials activity, these products are ceramic components: hot surface igniters, electro-ceramic parts for household appliances, ceramic balls for high-performance bearings, automobile water pump seals, special components for the semiconductor industry, agricultural spray nozzles, and other dense alumina components. In 2009, Saint-Gobain's "Advanced Ceramics" business reported sales of 135 million euros, with more than 1,100 employees spread out over 14 sites in the Americas, Europe, and Asia.
Saint-Gobain accepted the offer of CoorsTek, a major global and historic stakeholder in the advanced ceramics industry, given that this company has the investment resources and R&D capacity to allow the businesses sold to capitalize on new synergy for their international development.
With this divestment, Saint-Gobain's Ceramic Materials activity is continuing to implement dynamic management of its business portfolio by favoring activities with high technological content, in which it enjoys a leadership position in terms of innovation and product development.
This divestment is subjected to approval by the US and Brazilian anti-trust authorities.
More about Saint-Gobain
Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2009 sales of EUR37.8 billion, Saint-Gobain operates in 64 countries and has more than 190,000 employees. For more information about Saint-Gobain, please visit http://www.saint-gobain.com.
More about CoorsTek
CoorsTek is the leading technical ceramics manufacturer headquartered in North America with facilities in Europe and Asia. CoorsTek supplies critical components and complete assemblies for defense, medical, automotive, semiconductor, aerospace, electronic, power generation, telecommunication, and other high-technology applications. Utilizing advanced material technologies, the company's engineered solutions enable its customers' products to overcome technological barriers and improve performance. For more information about CoorsTek, please visit http://www.coorstek.com.
Analyst & Investor relations Florence Triou-Teixeira +33-1-47-62-45-19 Etienne Humbert +33-1-47-62-30-49 Vivien Dardel +33-1-47-62-44-29 Press relations Sophie Chevallon +33-1-47-62-30-48 Sonia Hauseux +33-1-47-62-37-75