Officials at Saint-Gobain, France, signed an agreement, August 10, to acquire Brussels-based Bekaert's Specialty Films business, which operates under the name Solar Gard Specialty Films, according to an August 10 release. Aurora, Ohio-based Saint-Gobain Performance Plastics Corp., part of the Saint-Gobain Group, will now run the Solar Gard Specialty Films.
The transaction, with an enterprise value of $ 167 million, is subject to customary closing conditions. The companies expect to close the deal in the course of 2011.
The transaction covers the production facilities in San Diego; Zulte, Belgium; and Suzhou China; the operations under development in China; and all sales and service centers worldwide. The deal involves all employees currently working in Solar Gard Specialty Films.
Bekaert acquired the Specialty Films business in 2001, and under the current management team has developed it into a global market leader. While the business continued to grow successfully, technological synergies within Bekaert have proven to be limited over time. The future growth of Solar Gard can, therefore, be best secured within the Saint-Gobain group that sees significant product and market synergies for Solar Gard with its Innovative Materials businesses, including Performance Plastics and Flat Glass.
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