Saint-Gobain Announces Acquisition of BP Canada

Saint-Gobain has announced that it has signed a definitive agreement to acquire Building Products of Canada Corp. ("Building Products of Canada"), a leading manufacturer of residential roof underlayments and wood fiber insulation panels in Canada, for cash consideration of CAD 1.325 billion (approximately EUR 925 million). With this acquisition, Saint-Gobain is taking an important step to strengthen its leadership position in the lightweight and sustainable construction sector in the Canadian market. Through the acquisition of Building Products of Canada, Saint-Gobain aims to reinforce its position to provide Canadian customers with a wider range of state-of-the-art and sustainable solutions. Chairman and Chief Executive Officer Benoit Bazin stated: "This acquisition is in perfect alignment with our 'Grow & Impact' strategy, strengthening our position in North America and building on many successes we have achieved in this region over the past four years. The acquisition will create significant value for shareholders, improve the group's profitable growth, enrich our solutions to better serve our customers, and present attractive development opportunities for both Building Products of Canada and Saint-Gobain teams." Source