Saint-Gobain Sells Some Pipe Business in China for EUR200 Million
November 23 2018 - 4:05AM
Dow Jones News
By Nathan Allen
Compagnie de Saint-Gobain SA (SGO.FR) said Friday that it has
finalized the sale of some of its pipe businesses in China to
Nanjing Manyuan Technology Co. for 200 million euros ($228
million).
The sale comprises part of its Xuzhou pipe-manufacturing site in
China and some other industrial and property assets, Saint-Gobain
said.
The site is one the company's two pipe factories in China, which
manufacture ductile cast-iron pipes and fittings.
China's Ministry of Commerce has approved the sale, which is
part of Saint-Gobain's global divestment program announced in
July.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
November 23, 2018 03:50 ET (08:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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