Saint-Gobain to Divest Portuguese Glass Processing Business
July 6, 2023
Saint-Gobain has signed a binding agreement for the sale of COVIPOR, its glass processing business in Portugal, to PNI Portugal & Permanente SA.
Sale specifics
COVIPOR generated sales of around $22 million in 2022, with two industrial locations in the Porto area employing approximately 100 people.
Closing of this transaction is subject to Portuguese antitrust authority clearance and is expected in the third quarter of 2023. This transaction is part of Saint-Gobain's continued business profile optimization strategy, in line with the "Grow & Impact" strategic plan.
