"The environment in the United States in the construction sector is not going to improve in 2008. We do not expect a pick-up before 2009," Piere-Andre de Chalendar told French daily Les Echos.
Chalendar also said in the interview that because Saint-Gobain was producing and selling most of its products in the same country, a weak dollar had a limited impact on the group, which makes some 15 percent of its sales in the United States.
He said a weaker dollar, a slowdown in the U.S. residential home market and the subprime crisis were pushing down the valuation of companies.
"There can thus be acquisition opportunities to seize," he said.