France's Saint-Gobain has agreed to sell its regional glass processing business Baltiklaas OÜ in Estonia to Polar Glass OÜ, a subsidiary of Estonian timber firm Barrus AS.
Saint-Gobain logo. Credit: HJBC / Shutterstock
Credit: HJBC / Shutterstock
Barrus.is the largest glued laminated timber manufacturer in Estonia and supplier to window and door producers. Baltiklaas OÜ employs more than 200 people across two sites, located in Tartu and Mäo, with sales of around €25 million in 2021.
This transaction follows a number of other divestments in glass processing by the Group since 2018 in Europe with total sales of around €300 million divested. The latest was achieved in December 2021, of its regional glass transformation business Glassolutions in Denmark to the German glass manufacturer Semcoglas Holding GmbH.
Read more: Saint-Gobain to invest €45 million in Romania
This divestment is part of Saint-Gobain’s continued business profile optimisation strategy, in line with the “Grow & Impact” plan objectives. It is subject to the approval of the relevant competition authorities and should be finalised in the coming weeks.
Saint-Gobain is a major player in light and sustainable construction. The company designs, manufactures and distributes materials and services for the construction and industrial markets.
Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonisation of construction and industry are developed through a continuous innovation process and provide sustainability and performance.
With more than 167,000 employees, located in 72 countries, the Group achieved €38.1 billion in sales in 2020, and is committed to achieving carbon neutrality by 2050.
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