Saint-Gobain Slowdown

Saint-Gobain said recently its performance in Q3 confirmed the economic slowdown in Western Europe since May 2012. With the exception of its Verallia packaging division, all the group's business sectors saw sales volumes decline in the three months to 30 September, reflecting the deterioration of the global economy. It will continue its focus on sales prices with the aim of achieving a moderate price increase in an effort to pass on the rise in raw material and energy costs. It will pursue new cost cutting measures, with more savings of 160M/Euros in H2, saving 500M/Euros in the year. Its cost cutting programme will remain focused on Europe.