Saint-Gobain has announced plans to divest glass packaging specialist Verallia, as part of the reorganisation of its business portfolio.
A formal bidding process to this effect will be launched based on second-half earnings, with the aim of reaching an agreement with a buyer before mid-2015.
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Verallia currently operates manufacturing plants in 13 countries and employs nearly 10,000 people.
Headquartered in France, Verallia manufactures and supplies glass bottles and jars for the food and beverage industries worldwide. It also manufactures a range of stock containers.
Verallia generated €2.435bn in annual sales for the year 2013.
Meanwhile, Saint-Gobain also plans to acquire a controlling stake in construction chemicals producer Sika for €2.3bn.
Sika produces construction chemicals, as well as adhesives and sealants for its industrial applications, employing more than 16,000 people in 84 countries.
Saint-Gobain chairman and CEO Pierre-André de Chalendar said: "The two transactions, the plan for which we are announcing today, will accelerate the group’s strategic refocus on the design, production and distribution of innovative, high-performance solutions for habitat and industry.
"The transactions meet the objectives we announced in November 2013 to raise the growth potential and reduce the capital intensity of our businesses, increase our presence in emerging countries and in the US, and expand our range of differentiated products supported by strong brands."
Image: Verallia manufactures and supplies glass bottles and jars for the food and beverage industries. Photo: courtesy of Verallia.
