Saint-Gobain acquires Solar Gard specialty films from Bekaert
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Saint-Gobain Performance Plastics Corp. has signed an agreement with Belgium-based materials and coatings company Bekaert to buy Bekaert's specialty films business, which operates under the name Solar Gard Specialty Films.
Saint-Gobain Performance Plastics Corp. has signed an agreement with Belgium-based materials and coatings company Bekaert to buy Bekaert’s specialty films business, which operates under the name Solar Gard Specialty Films.
The transaction covers Solar Gard’s production facilities in San Diego, Calif.; Zulte, Belgium; and Suzhou, China.
Headquartered in Aurora, Ohio, Saint-Gobain Performance Plastics is part of the Saint-Gobain group of companies.
Bekaert acquired the Specialty Films business in 2001. “While the business continued to grow successfully, technological synergies within Bekaert have proven to be limited over time,” the company said in a press release. “The future growth of Solar Gard can therefore be best secured within the Saint-Gobain group that sees significant product and market synergies for Solar Gard with its innovative materials businesses.”
The release also said that Bekaert and Saint-Gobain expect to close the deal before the end of 2011. Bekaert expects the transaction to result in a capital gain of approximately EURO 10 million, and in a reduction of Bekaert’s consolidated net debt of approximately EURO 80 million.
Solar Gard makes coated window films and other specialty films for automotive, architectural, photovoltaic and custom coating applications. The company’s products are sold in more than 90 countries under the Solar Gard, Panorama, Quantum and Solar Gard Armorcoat brands.