PARIS, October 28, 2016 /PRNewswire/ --
Saint-Gobain's board of directors takes note of the ruling by the Cantonal Court of Zug today in the court proceedings between Sika and its majority shareholder Schenker-Winkler Holding (SWH) which rejects the request of SWH to repeal the resolutions of the Annual General Meeting of Sika of 14 Avril 2015 for which the voting rights of SWH had been restricted.
Until today, all actions relating to the merits of the case initiated by Sika to contest Saint-Gobain's acquisition of a controlling stake in Sika had been rejected by the competent courts and authorities.
As SWH has stated its intention to appeal this decision to the High Court of Zug, Saint-Gobain is confident that the Swiss justice will, on appeal, restore the ownership rights of SWH, the Burkard family's holding company.
Saint-Gobain's board of directors affirms that it wishes to pursue this industrial project, which will create value for all stakeholders.
Saint-Gobain underlines that the agreement with the Burkard family is valid until June 2017 and can be extended by Saint-Gobain until December 2018.
ABOUT SAINT-GOBAIN IN SWITZERLAND
Saint-Gobain has been operating in Switzerland for 80 years and employs currently more than 2,000 employees at 11 industrial sites. In Switzerland, Saint-Gobain has expanded through successive acquisitions of family companies. The insulation company Isover, the plaster company Rigips, the mortars company Weber, the bathroom company Sanitas-Troesch and the fire-resistant glass company Vetrotech are Swiss subsidiaries of Saint-Gobain.
Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.
€39.6 billion in sales in 2015
Present in 67 countries
More than 170,000 employees