Sika AG contests Saint-Gobain overture, maps North American market growth

More than a year after an initial overture and subsequent Swiss agency and European Commission legal proceedings, management of Baar, Switzerland-based Sika AG management remains adamantly opposed to a stock transfer to global glass and building materials giant Saint-Gobain. Sika Chairman Dr. Paul Hälg calls the transaction “unparalleled in the world” and reiterates board concerns rooted in the bid’s structure: Saint-Gobain seeks the stake of the largest shareholder “the Burkhart family” amounting to 16.1 percent of shares, but vested with 52.4 percent of voting rights. In a late-2015 letter to shareholders, he noted:

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Sika Corp. parent pushes back hard on glass giant’s pursuit of a controlling stake

Sources: Sika AG, Baar, Switzerland; Saint-Gobain, Paris; CP staff

A year after an initial overture and subsequent Swiss agency and European Commission legal proceedings, Sika AG management remains steadfastly opposed to a stock transfer to global glass and building materials giant Saint-Gobain. Sika Chairman Dr. Paul Hälg calls the transaction “unparalleled in the world” and reiterates board concerns rooted in the bid’s structure: Saint-Gobain seeks the stake of the largest shareholder—the Burkhart family—amounting to 16.1 percent of shares, but vested with 52.4 percent of voting rights.

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PLYCEM ADDS FIBER CEMENT SIDING IN SAINT-GOBAIN DEAL

Paris-based Saint-Gobain anticipates a firstquarter 2014 closing on the sale of its RoaringRiver, N.C.; Terre Haute, Ind.; and, WhiteCity, Ore., fiber cement siding facilities toAlpharetta, Ga.-based Plycem USA Inc., whichdistributes fiber cement trim sourced from aCosta Rica plant.

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Three-plant Saint-Gobain deal adds fiber cement siding to Plycem trim business

Sources: Saint-Gobain, Paris; CP staff

Saint-Gobain anticipates a first quarter 2014 closing on the sale of its Roaring River, N.C., Terre Haute, Ind., and White City, Ore., fiber cement siding facilities to Alpharetta, Ga.-based Plycem USA Inc., which distributes fiber cement trim sourced from a Costa Rica plant.

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Mexico joint venture aligns Lafarge with world’s top wealth holder

Sources: Lafarge S.A., Paris; CP staff

Lafarge will boost its cement production stake south of the border in partnership with Elementia, a consortium whose holdings include concrete pipe and fiber cement siding businesses in Mexico, plus a cement mill under construction in the country’s central region. A joint venture will span a) Lafarge plants in Vito and Tula, with combined output near 1 million metric tons; and, b) the new mill, with which Elementia was chartering Cementos Fortaleza, whose capacity slightly exceeds the sister facilities’ total.

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