Bekaert Specialty Films Sold to Saint-GobainAugust 10th, 2011 by Editor
Bekaert Specialty Films announced the impending sale of its specialty films division to Ohio-based Saint-Gobain Performance Plastics Corporation. Bekaert entered the film industry in 2001 when they purchased the Specialty Films business.
A press release from Bekaert issued today stated, “While the business continued to grow successfully, technological synergies within Bekaert have proven to be limited over time.
Included in the sale are the production facilities in San Diego, Calif., Belgium and China as well as other operations in China, all sales and service centers and all employees currently working for Solar Gard Specialty Films. The sale is expected to be finalized sometime in 2011.
“Subject to final determination of transaction costs and other expenses, Bekaert expects the transaction to result in a capital gain of approximately EUR [10 million], and in a reduction of Bekaert’s consolidated net debt of approximately EUR [80 million],” said a press release from Bekaert.
“We are extremely excited about joining forces with a major recognized player,” says Christophe Fremont, president of Bekaert Specialty Films LLC, manufacturer of Solar Gard® Specialty Films. “Saint-Gobain is a market leader in the automotive and architectural markets and in particular the architectural energy market. There are many synergies, including the brand awareness that we will be able to leverage to grow the market for window film worldwide. Saint-Gobain, like Solar Gard, believes that glazing and window film are complimentary offerings in the market place and that there are huge opportunities for both technologies in the automotive and architectural markets, in particular for providing energy efficiency solutions. Solar Gard window films are proven carbon negative and offer a cost effective and carbon effective solution in many glazing and window projects. Current and planned energy efficiency regulations, legislation, standards and incentives are looking for more cost effective measures that can be deployed on a mass scale, and window films will more often provide the best answer to these needs. The need for glazing and window film will always be there and Saint-Gobain, like Solar Gard, recognizes the opportunity to develop new applications, drive innovation and expand market reach by leveraging the synergies between the two technologies.”
Stay tuned to WINDOW FILM magazine and windowfilmmag.com for more information.