COD Compagnie De Saint-gobain

TIDMCOD

RNS Number : 2524F

Compagnie de Saint-Gobain

06 July 2023

SAINT-GOBAIN ANNOUNCES $235 MILLION INVESTMENT

TO DOUBLE PRODUCTION CAPACITY OF ITS FLORIDA GYPSUM FACILITY IN THE UNITED STATES

Saint-Gobain North America today announced plans to invest $235 million (approximately EUR215 million) over the next two years to expand and modernize its CertainTeed (ex-Continental Building Products) gypsum manufacturing facility in Palatka, Florida, more than doubling the production capacity of the existing manufacturing plant and improving its energy consumption.

The Palatka facility, which currently employs over 150 people, began operations in 2001 and is one of the largest gypsum plants in the southeastern United States. It is strategically located in the heart of one of the most dynamic areas in the country with access to natural gypsum.

Starting in the second half of 2025, this new production line will benefit from new, best in class energy-saving equipment and automation technology. The new ultra-low energy board dryer is expected to reduce the energy consumption by about 25%. The new mill system will be equipped with heat recovery technology and estimated to be about 40% more efficient than the existing mill; it will be among the most efficient systems of its type in North America.

This project comes as Saint-Gobain continues to implement its "Grow & Impact" strategy, which includes expanding its presence in fast growing markets. North America is a leading market for the Group with structural needs in light construction and renovation.

ABOUT SAINT-GOBAIN

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures

and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization

of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose,

"MAKING THE WORLD A BETTER HOME".

EUR51.2 billion in sales in 2022

168,000 employees, locations in 75 countries

Committed to achieving Carbon Neutrality by 2050

For more information about Saint-Gobain,

visit www.saint-gobain.com and follow us on Twitter @saintgobain

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEASXKELDDEFA

(END) Dow Jones Newswires

July 06, 2023 11:46 ET (15:46 GMT)

Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
Von Jan 2025 bis Feb 2025

Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
Von Feb 2024 bis Feb 2025