LONDON, UK: Saint-Gobain, a global leader in building materials and solutions, has announced the sale of COVIPOR, its glass processing business in Portugal, to PNI Portugal & Permanente SA, a Portuguese company specialized in glass and aluminum products.
The deal, which was signed through a binding agreement, involves two industrial locations in the Porto area employing about 100 people. COVIPOR generated sales of around €20 million in 2022, offering glass solutions for the construction and automotive markets.
The transaction is subject to Portuguese antitrust authority clearance and is expected to close in the third quarter of 2023.
The sale is part of Saint-Gobain’s continued business profile optimization strategy, in line with its “Grow & Impact” strategic plan, which aims to focus on high value-added solutions and markets with strong growth potential.
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