Saint Gobain Eyes Better US Building Sector From 2009

Date: 14 December 2007
Source: Reuters

Date: 14 December 2007

The head of Saint-Gobain, the world's biggest building materials group, expects conditions in the U.S. construction sector to improve from 2009.





"The environment in the United States in the construction sector is not going to improve in 2008. We do not expect a pick-up before 2009," Piere-Andre de Chalendar told French daily Les Echos.



Chalendar also said in the interview that because Saint-Gobain was producing and selling most of its products in the same country, a weak dollar had a limited impact on the group, which makes some 15 percent of its sales in the United States.



He said a weaker dollar, a slowdown in the U.S. residential home market and the subprime crisis were pushing down the valuation of companies.



"There can thus be acquisition opportunities to seize," he said.


600450 Saint Gobain Eyes Better US Building Sector From 2009 glassonweb.com

See more news about:

Others also read

Delphi Glass, the premier source for all glass craft needs, offers a more convenient way to fuse glass and create custom jewelry -- the microwave kiln.
Extremely fine glass powder from SCHOTT provides greater stability and density to high-quality composite dental fillings.
Inside Sales is  pleased to welcome Shannon Forthuber as the  newest team member at Morse Industries, a provider  of top-of-the-line aluminum, stainless steel, plastic  and custom parts and extrusions for the marine,  architectural, and fixture industries as well as other  industrial manufacturers.
The Kootenai County solid waste director in northern Idaho says the county will no longer accept recycled glass when the new year starts.
HyRadix® Inc., a leading provider of on-site hydrogen generation systems and supply solutions, has entered into an agreement with Praxair India, a subsidiary of US based Fortune 300 company, Praxair, Inc., for the supply of the HyRadix Aptus® on-site hydrogen generator for industrial hydrogen applications within India.
The company will be eligible for a loan forgiveness credit of $500,000 provided that it creates and retains 90 jobs by the third anniversary year of the assistance agreement.

Add new comment