Posted in | News | Plastics and Polymers

Saint-Gobain to Sell Synflex

Mar 13 2006

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Saint-Gobain’s High Performance Materials Sector has signed an agreement to sell its subsidiary Synflex to Eaton Corporation.

Synflex belongs to the High-Performance Plastics business line and develops, manufactures and sells thermoplastic hose and tubing for a range of industrial markets, including the heavy goods vehicle market.

Synflex generated sales of approximately $120 million in 2005 and employs around 450 people in four production sites, three of which are located in the US and one in Belgium.

The sale of Synflex fits in with the strategy of the High Performance Materials Sector, which is to constantly optimize its technological and market portfolio in order to strengthen its competitive advantage.

Eaton Corporation is a diversified industrial manufacturer with 2005 sales of $11.1 billion and 59,000 employees.

This transaction is currently undergoing regulatory approval from the various competition authorities and is expected to close by the end of March 2006.

http://www.saint-gobain.com

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