Saint-Gobain has signed a binding agreement for the sale of Covipor to PNI Portugal and Permanente.
Covipor is Saint-Gobain's glass processing business in Portugal.
Covipor generated sales of approximately €20 million in 2022, with two industrial locations in the Porto area employing approximately 100 people.
Closing of the transaction is subject to Portuguese anti-trust authority clearance and expected in the third quarter of 2023.
This transaction is part of Saint-Gobain's continued business profile optimisation strategy, in line with its 'Grow and Impact' strategic plan.