Saint-Gobain Is Seeking Annual Building Distribution Growth Exceeding 8%
Cie. de Saint-Gobain SA, Europe’s biggest supplier of building materials, targets annual growth of more than 8 percent through 2015 for its distribution unit, Chief Executive Officer Pierre-Andre de Chalendar said.
Growth will be led by an increasing need for energy savings and efficiency, the CEO said today at the company’s headquarters in Courbevoie near Paris. The distribution unit aims for “internal growth” of 4 percent to 5 percent, and an operating margin of 6 percent, the company said in a document presenting mid-term financial goals.
The CEO has said the maker of glass, plasterboards and pipes will focus on housing and construction products, and seeks medium-sized acquisitions in emerging markets and in the energy-efficiency and solar-energy industries. Saint-Gobain said on Oct. 13 the company may sell a minority stake of its packaging business in an initial public offering next year.
Asia and emerging markets will represent 39 percent of sales for the construction products and innovative materials units in 2015, up from 31 percent in 2010, de Chalendar said.
Saint-Gobain aims to generate 2 billion euros ($2.73 billion) in sales of panels, components, glass and mirrors used in solar energy in 2015, up from 300 million euros this year, the CEO said.
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