Feb 11 2015
As part of its ongoing portfolio optimization, Saint-Gobain Building Distribution has disposed of two non-core businesses that lacked synergies with the rest of its operations: Meyer Decorative Surfaces (MDS) in the United States and Ashworth in the United Kingdom.
MDS is a regional US one-stop distributor of a broad range of surfacing and complementary products for the kitchen and bathroom sectors (wood products, laminates and related products). It had 15 branch locations and 200 employees in Georgia, North Carolina, South Carolina, Tennessee and Virginia. It generated sales of $66m in 2014. The MDS business assets were sold on December 31, 2014 to Rugby Architectural Building Products.
The Ashworth business distributes pipes, valves and fittings to the mechanical services and process industries, trading from six sites with 135 employees in the United Kingdom. In 2014, it generated sales of £32m. The deal was signed on February 5, 2015 with GIL Investments, with a completion date of February 28, 2015.
ABOUT SAINT-GOBAIN
In 2015, Saint-Gobain is celebrating its 350th anniversary - 350 reasons to believe in the future. Backed by its experience and its capacity to continuously innovate, Saint-Gobain, the world leader in the habitat and construction market, designs, manufactures and distributes high-performance and 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.
Source: http://www.saint-gobain.com