Wendel Seeks To Help Saint-Gobain Exceed Its Financial Targets

French investment company Wendel backs Saint-Gobain's new strategy and aims to help the building materials group exceed its financial targets, Wendel chief executive Jean-Bernard Lafonta told the weekend edition of Le Figaro.

Speaking in an interview with the paper, Lafonta said Wendel is working in partnership with Saint-Gobain and has been holding regular in-depth discussions with its management since taking an initial stake in its capital just three months ago.

'We support the strategy of (Saint-Gobain CEO) Pierre-Andre Chalendar... What we want is to help the management exceed the financial targets given in July 2007,' Lafonta told Le Figaro.

Wendel's teams have conducted an in-depth analysis of Saint-Gobain's activities, Lafonta said, and have found significant sources of value creation which could increase the group's growth and profitability in the medium term.

At the publication of its first half results in July, Saint-Gobain raised its full-year guidance, saying it now expects double-digit growth in operating profit at constant currencies, and a rise of at least 20 pct in underlying net profit, excluding capital gains and losses.

600450 Wendel Seeks To Help Saint-Gobain Exceed Its Financial Targets glassonweb.com

See more news about:

Others also read

Sika, the Burkard family and Saint-Gobain have signed agreements which terminate and resolve their dispute to the common benefit of all parties involved and that of their respective shareholders and stakeholders.
Saint-Gobain Acquires Italian Company Logli Massimo
Saint-Gobain strengthens its glass solutions portfolio.
Mr. Pierre-André de Chalendar
Compagnie de Saint-Gobain’s Board of Directors decides to propose the renewal of the Director’s term of office of Mr. Pierre-André de Chalendar and to co-opt Ms. Dominique Leroy, CEO of Proximus, as an independent Director.
Wicona provides innovative structural glazing solutions to One Bedford Avenue
WICONA, the specialist manufacturer of glazing and glass curtain walling, has worked with specialist contractor GLASSOLUTIONS to deliver the glazing and facades package for One Bedford Avenue, a flagship mixed use development in Central London.
Windows, Doors & Facades 2017: A continuing success story
The fair in Dubai is the central meeting place for worldwide manufacturers and distributors of window, door and facade products.
Providing a clear and safer vision: A new glass solution for LNG Carriers
Vetrotech Saint-Gobain, introduces THERMOVIT© PRO A0, an electrically heated glass solution with A0 fire-resistance in line with IGC International Code for Liquefied Natural Gas (LNG) Carriers.

Add new comment