COURBEVOIE, France, November 22 /PRNewswire-FirstCall/ -- The Board of Directors of Compagnie de Saint-Gobain notes with satisfaction the progress made in the execution of the Group's strategy as approved by the Board and presented by its Chief Executive Officer on July 27, 2007.
In this regard, the Board notes the recent successful acquisitions of Maxit and Norandex, as well as the sale of the Reinforcements and Composites business, and confirms that the projected divestment of the Packaging business will be implemented in timely fashion.
The Board of Directors of Compagnie de Saint-Gobain records the acquisition by investment firm Wendel of an interest in the Company's capital, as well as the representations made by said firm in this respect when disclosing that it had crossed the 5%, 10% and 15% shareholding thresholds, in addition to the intentions stated by Wendel when exceeding the 10% shareholding threshold.
In compliance with the principle of equal treatment of shareholders and in accordance with stock market regulations, the Chief Executive Officer of Saint-Gobain will continue the appropriate dialogue with Wendel, in particular as regards the representation of the latter on the Board of Directors.
Investor Relations Department Florence Triou-Teixeira Tel: +33-1-47-62-45-19 Alexandre Etuy Tel: +33-1-47-62-37-15 Fax: +33-1-47-62-50-62
