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Saint-Gobain to Shed Silicon Carbide Powders Division

January 10, 2019

French building materials maker Saint-Gobain recently secured an exclusive, binding agreement to sell its silicon carbide division to private equity firm OpenGate Capital, a company press release announced Tuesday. 

The Courbevoie, France-based division of Saint-Gobain Ceramic Materials generates annual sales of €120 million, or about $138 million. Silicon Carbide grains and powders produced by the division are sold under the SIKA brand and used in a variety of applications, including abrasives, industrial, aerospace and metallurgy.

Saint-Gobain said the move is linked to its on-going portfolio management plan to divest from businesses “representing sales of at least €3 billion” by the end of this year. 

The sale is expected to close during the second half of 2019 pending approval by anti-trust regulators.

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