May 23, 2019 / 10:51 AM / 3 months ago

Saint-Gobain seeks to sell French distribution centers

The logo of Saint-Gobain is seen on a banner on a building construction site in the financial and business district of La Defense in Courbevoie, outside Paris, France, February 19, 2018. REUTERS/Gonzalo Fuentes

PARIS (Reuters) - French construction materials producer Saint-Gobain has started a process to sell its French distribution centers serving public works companies.

The sale of the business, which represents 250 million euros in annual revenue, is likely to be completed this year, said Guillaume Texier, Saint-Gobain’s director for France, Southern Europe, the Middle East and Africa.

Saint-Gobain will retain its retail network serving individual customers and small business owners.

The company has said it aims to sell assets representing 3 billion euros in revenue as part of a restructuring plan under newly appointed Deputy CEO Benoit Bazin.

Reporting by Gilles Guillaume; editing by Inti Landauro and Jason Neely

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