Saint-Gobain to Sell Its Construction Glass Business in South Korea

Glass Magazine
October 14, 2019
COMMERCIAL, FABRICATION

Saint-Gobain reached an agreement to sell its construction glass activity in South Korea, Hankuk Glass Industries, a player in the local construction market, to Glenwood Private Equity, an investment management company in Korea specializing in industrial activities and the construction sector, according to company officials.

The transaction should close at the end of 2019 once approval of the competition authorities has been granted. It will be based on an enterprise value of around $264 million.

In 2018, the business generated revenues of around $220 million and operating income of $11 million. The company employs 310 people and consists principally of two flat glass production units and a transformation line.