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Saint-Gobain To Sell 67% Of Its Pipe Business In China

Saint-Gobain (CODGF.PK) agreed to sell 67% of its Pipe business in China to a consortium led by local management. The transaction should close during summer 2021 and values the company at around 100 million euros.

PAM China comprises a production facility in Ma'anshan, in the country's eastern region, employs almost 1,100 people, and generated 170 million euros in sales and 9 million euros in operating income in 2020.

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