Romania: Saint-Gobain Construction Products posts sales of RON 240mn

French investment group Wendel, whose net profit fell from €333.7 million (US$358.33 million) in 2013 to €19.7 million in 2014, aims to strengthen its position in the US.

It has set a priority of investing in unlisted companies, and since 2013 Wendel has invested €1.5 billion in unlisted companies, with notably the recent purchase of Austrian group Constantia Flexibles.

While the group has sold parts of its stakes in Bureau Veritas and Saint-Gobain, listed companies account for around 70% of its asse

Saint-Gobain posted sales up 2.6% to €43.20 billion in 2012. On a like-for-like basis, the 2.3% organic growth in North America was offset by the 2.5% drop in sales in France and by the 4.3% drop in Western Europe, while sales in Asia and in emerging countries fell 0.1% compared to 2011. By business sector, innovative materials saw a 4.4% drop in sales on a like-for-like basis. Construction products fell 1.7%, and building distribution saw a 2% drop in like-for-like sales. In 2012 the French group's net inc

ASA CONS, a Romanian producer of concrete products owned by the French group Consolis, estimates that its turnover will reach around RON 62million (€14.01 million/US$ 17.24 million) in 2015, similar to the sales recorded in 2014.

The company forecasts a 40% rise in sales in 2014, from previous year.

ASA CONS is involved in projects such as the construction of Shopping Center Targu-Jiu, developed by NEPI, and the construction of the Reci wood processing factory by Holzindustrie Schweighofer.

Investment group Wendel is reported to be selling 30 million shares of French group Saint-Gobain, which represents 5.3% of the capital of the group.

Saint-Gobain will buy one-third of the stake, according to a press release.

The portion is worth around €1.2 billion at current share prices.

The operation will translate as an accounting loss of around €220 million in the 2016 accounts of Wendel, which is signing a new chapter in its consistent strategy of increasing its exposure to unlisted assets.