Concrete subsidiary sold off as Saint-Gobain aims to expand internationally.
International building materials group Saint-Gobain is to sell its concrete business subsidiary Saint-Gobain Stradal to the CRH Group.
Saint-Gobain said that it was selling Stradal because its focus was too narrow. Stradal - which designs, manufactures and sells concrete products for gardening and landscaping as well as road construction and utilities – caters almost exclusively for the French market.
Stradal currently employs more than 1,000 people at its 24 plants, and reported sales of £124 in 2004. CRH, which was founded in Ireland in 1970, employees 60,000 people in 24 countries.
The transaction will be submitted to the French competition authorities for approval.