PARIS, July 7, 2014 /PRNewswire/ --
Saint-Gobain and EBRD (European Bank for Reconstruction and Development) have signed an agreement whereby EBRD will increase its participation in Saint-Gobain Construction Products RusLLC from its current stake of 11% to 33%.
The EBRD equity injection will contribute to financing Saint-Gobain Construction Products planned investments in Russia for the next three years including inter alia projects in the Gypsum, Industrial Mortars and Insulation activities in several regions.
The investments will reflect the Environmental and Social Action Plan agreed with EBRD thereby reaffirming the commitment of the Saint-Gobain Group to the highest standards in environmental performance, corporate governance and business conduct.
This operation will contribute to the acceleration of Saint-Gobain's development in Russia, in alignment with the Group's strategy of strengthening its position in fast growing markets.
About Saint-Gobain
Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes high-performance building materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection.With 2013 sales of €42 billion, Saint-Gobain operates in 64 countries and has nearly 190,000 employees.For more information about Saint-Gobain, please visithttp://www.saint-gobain.comor download the new "Saint-Gobain Shareholder" application for tablet and smartphone.
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SOURCE Saint-Gobain
