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Tag Archives: Saint-Gobain
Another amended complaint has been filed by Bruce Pickens against Mercedes-Benz USA (Mercedes-Benz) for spontaneous sunroof breakage. Originally the class action lawsuit included Saint-Gobain Sekurit (Saint Gobain), and Napleton Autowerks of Indiana, Inc. (Napleton Autowerks) as defendants. The amended complaint … Continue reading
Import Glass Corporation (IGC), and automotive glass distributor with 19 locations throughout the U.S., has opened its newest location in Opa Locka, Fla., to service all of South Florida. The company says it offers a full line of OEM and … Continue reading
Today, on Veterans Day, we pause to honor all of the industry’s veterans and take a moment to highlight what many auto glass companies are doing today, and every day, to honor them. Many industry companies have made a commitment … Continue reading
Saint-Gobain hosted 15 start-ups and small and middle-sized companies at Domolab, its innovation center based in Aubervilliers, near Paris, as part of a joint event organized with the European Innovation Council (EIC) and the support of NOVA, Saint-Gobain’s External Ventures … Continue reading
Saint Gobain has seen an uphill swing in 2018, according to the company it saw an increase of 4.4 percent in its solid organic growth. The company’s flat glass increases were another highlight. Its flat glass like-for-like sales increased by … Continue reading
Saint Gobain continues to make its presence known overseas. The French glassmaker opened its doors to a new float glass manufacturing plant in India. According to the company, it’s located in Sriperumbudur, near Chennai, India. Saint Gobain stated the new … Continue reading
Saint-Gobain recently earned a spot on Clarivate Analytics’ “Top 100 Global Innovators” list for 2018. But this isn’t the first, second or third time the company has made its way on the list. In fact, this is the eighth consecutive … Continue reading
Saint-Gobain has taken a 50 percent stake in a flat glass production line of the Chinese group JJG, located in Zibo in the Shandong province, North-East China, according to an announcement from Saint Gobain. JJG has a total annual capacity … Continue reading
Sika recently held its Capital Markets Day where CEO Paul Schuler announced the company’s 2020 strategic targets, and one of its primary focuses over the next few years is the company’s automotive adhesives and materials. According to the company’s outlook … Continue reading
Forbes recently released its 2017 Global 2000 list of the world’s biggest public companies. The list features several firms within the automotive glass industry, including Saint-Gobain and Fuyao Glass. In the report, a company’s sales, profit, assets and market value … Continue reading
Research Frontiers, developers of SPD-SmartGlass, an electronically tintable glass, recently released its financial statement for the first six months of 2017, which reveals strong use in the automotive segment. The company’s revenue, which historically was attributed to the glass’s use … Continue reading
In the first half of 2017, SIKA Corporation reported a sales increase of 8.1 percent, or $3,140.4 million USD, and a net profit increase of 16 percent on a year-over-year basis. The company said the growth is largely due to … Continue reading
Saint-Gobain has announced it is building a new flat glass (float) production line in Saltillo in Mexico. This plant, scheduled to come on stream at the beginning of 2020, will manufacture glass for the automotive and construction sectors. It will … Continue reading
Saint-Gobain reported an improvement in volumes which increased 6.0 percent, with a positive calendar impact averaging around 3 percent, according to the company’s financial report for the first quarter of 2017. The report also notes a currency impact of 0.4 … Continue reading
Chairman and Chief Executive of Saint-Gobain, Pierre-Andre de Chalendar, has credited the company’s $41 million in sales up by 2.6% to the improved economic environment in 2016. He says the company was able to capitalize on lower energy and material … Continue reading
SIKA AG has received an appeal filed by Schenker-Winkler Holding AG against a Swiss court that favored SIKA in a years-long dispute.
The job search website Glassdoor named Saint-Gobain as one of the “Best Employers in France,” Saint-Gobain announced December 6 in a press release.
Saint-Gobain announced December 6 its acquisition of Romanian company Pietta Glass Working, which has operations in glass processing, insulating glazing systems and automotive glass, according to a company press release.
Saint-Gobain announced its acquisition of an Italian manufacturer of automotive adhesive tape.
A Swiss court sided with Swiss specialty chemical company SIKA AG’s management Friday in a dispute with its founders, who want to sell their shares to French rival Saint-Gobain SA.
Saint-Gobain has acquired the second-largest automotive glass repair and replacement franchise network in France.
Saint-Gobain’s battle for control of SIKA continues on. The latest development came this week when the board of directors for Swiss specialty chemical company SIKA again restricted the voting rights of Schenker-Winkler Holding (SWH) to 5 percent of all registered shares during the annual general shareholders meeting. French conglomerate Saint-Gobain plans to acquire SWH, thus gaining majority voting rights in SIKA. Saint-Gobain has challenged the restricted voting rights’ strategy by SIKA’s board in the Swiss Zug Court.
French conglomerate Saint-Gobain has extended its deal with the Burkard family, giving the company more time to acquire a controlling interest in Swiss specialty chemical company SIKA AG. The Burkard family owns SIKA’s majority voting rights via Schenker-Winkler Holding.
In 2015, the antitrust authorities gave their “unconditional approval” for French conglomerate Saint-Gobain to gain a controlling interest in Swiss specialty chemicals company SIKA AG, Saint-Gobain management wrote in their 2015 financial report.
Swiss specialty chemical company SIKA AG management continues its opposition to a takeover bid by French conglomerate Saint-Gobain. There is a “necessity of safeguarding Sika’s successful business model in the interest of all stakeholders,” the company’s management said when reporting fourth-quarter sales.
In a letter to Saint-Gobain shareholders, Swiss specialty company SIKA AG chairman Paul Hälg denounced the “value of the [Saint-Gobain] takeover attempt,” writing it could take years for the issues to be worked out in the court system. In response, Saint-Gobain management released a statement saying that “all antitrust authorities have given pre-closing clearance” and the company is “determined to pursue this value-creating transaction for both groups.”
Swiss-based specialty chemical company SIKA AG reported a 5.5 percent sales increase at constant exchange rates for the first nine months of 2015. Though results were strong, the report indicated that one uncertainty remains—Saint-Gobain.
French conglomerate Saint-Gobain plans to pursue its acquisition of a controlling interest of Swiss specialty chemical company SIKA AG pending a decision by the Swiss Zug Supreme Court. The court decision is expected in first half of 2016, according to the company’s latest 2015 third-quarter financial report. The company is waiting to see if the court will lift the restriction in voting rights the SIKA board has applied to Schenker-Winkler Holding (SWH), which is owned by the Burkard family.
French conglomerate Saint-Gobain is continuing to pursue its plan to acquire controlling interest in Swiss specialty chemical company SIKA AG, according to the company’s latest letter to shareholders. Meanwhile, a letter was sent to Saint-Gobain management by SIKA’s managers “urging … Continue reading
The Swiss Competition Commission has “unconditionally authorized Saint-Gobain’s acquisition of control over SIKA” according to French conglomerate Saint-Gobain.
The Swiss Federal Administrative Court (FAC) had upheld Swiss specialty chemical company SIKA AG’s opt-out clause, rejecting a complaint filed over the clause by the Bill and Melinda Gates Foundation Trust and Cascade Investment. The court drama began after French conglomerate Saint-Gobain’s plan to gain a controlling interest in SIKA by acquiring Schenker-Winkler Holding (SWH) was revealed late last year.
“Antitrust filings are proceeding as planned.” This is how French conglomerate Saint-Gobain’s management refers to the company’s bid to acquire Swiss specialty chemical company SIKA AG in its 2015 report on half-year results.
Swiss specialty chemical company SIKA AG’s board restricted the voting rights of Schenker-Winkler Holding (SWH) to 5 percent of all registered shares, thwarting the Burkard family-owned company’s attempt to remove the board chairman and several board members during the extraordinary shareholders meeting held Friday. In a repeat of what occurred at annual general shareholders meeting in April, compensation for the members of the board was rejected for the “current term of office.” SWH retained its majority voting rights on this topic.
The European Commission has approved the proposed acquisition of Swiss specialty chemical company SIKA AG by French conglomerate Saint-Gobain.
Cascade Investment LLC and the Bill & Melinda Gates Foundation Trust have filed a director’s liability lawsuit against Urs F. Burkard, board member of SIKA AG, alleging breach of director’s duties. The Swiss specialty chemical company, its current management and some investors, such as Cascade and the Bill & Melinda Gates Foundation, are attempting to stave off a bid by French conglomerate Saint-Gobain to gain a controlling interest in SIKA by acquiring Schenker-Winkler Holding (SWH).
Swiss specialty chemical company SIKA AG has reportedly gained a new 3 percent shareholder that opposes the deal by Burkard family-owned Schenker-Winkler Holding (SWH). This deal would give majority voting rights in the company and subsequently ownership of SIKA to French conglomerate Saint-Gobain.
The Swiss Superior Court of Zug (Obergericht Zug) has denied Schenker-Winkler Holding AG’s (SWH) appeal over its restriction of voting rights in specialty Swiss chemical company SIKA AG. SIKA, its current management and some investors are attempting to stave off a bid by French conglomerate Saint-Gobain to gain a controlling interest in SIKA by acquiring SWH.
The U.S. Department of Transportation (DOT) has recently awarded four new DOT numbers for automotive glazing. DOT No. 1042 was issued to Fuyao Group Shenyang Automotive Glass Co. Ltd. in Shenyang, Lianoning, China. The DOT issued No. 1043 to Saint-Gobain … Continue reading
Swiss specialty chemical company Sika AG’s seven-hour long annual general meeting of shareholders is one for the record books. The Swiss company’s management and several board members are in a standoff with Burkard family-owned Schenker-Winkler Holding (SWH) over the potential sale of SWH to Saint-Gobain, which would give the French conglomerate majority voting rights in Sika. Several key topics regarding this deal were voted on during the meeting.
Saint-Gobain’s agreement with the Burkard family over the sale of Schenker-Winkler Holding (SWH) has been extended until June 30, 2016. The deal would position Saint-Gobain to gain majority voting rights in Swiss specialty chemical company Sika AG without having to make an offer for the remaining shares.
The Swiss Takeover Board has upheld Sika AG’s “opt-out clause,” which allows French conglomerate Saint-Gobain to buy Schenker-Winkler Holding (SWH) and majority voting rights in Sika without having to make an offer for the remaining shares. SWH is owned by the Burkard family, which controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to Saint-Gobain. The Sika board and management have voiced their opposition to the deal.
The Swiss Cantonal Court of Zug has denied Schenker-Winkler Holding’s (SWH) request to uphold the company’s voting rights in Sika AG. SWH is owned by the Burkard family, which controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to French-conglomerate Saint-Gobain. The Sika board and management seeks to restrict the Burkard family’s voting rights to 5 percent given its desire to sell its Sika shares to Saint-Gobain.
The Swiss Cantonal Court of Zug has denied Schenker-Winkler Holding’s (SWH) request to hold an extraordinary shareholders meeting for Swiss specialty chemical company Sika AG. The Burkard family-owned company, SWH, controls 16.1 percent of Sika’s capital with 52.4 percent in voting rights. SWH plans to sell its stake in Sika to French-conglomerate Saint-Gobain. Via the special meeting, SWH sought to oust certain Sika board members who voiced opposition to the deal. Now that topic will be addressed during the regular annual shareholders meeting in April.
The Swiss Takeover Board has decided the Burkard family, which owns Schenker Winkler Holding AG, can move forward with selling its interest in Swiss chemical company Sika AG to French conglomerate Saint-Gobain.
In a Power Point presentation covering 2014 full-year financials, French conglomerate Saint-Gobain’s management says its “commitment is irrevocable” to acquire a controlling interest in Swiss specialty chemical company Sika AG. “Consequently, we hope that those members of Sika’s management team who currently oppose the transaction will rethink their position and the radical steps they have taken which are detrimental to the group’s 17,000 employees,” management writes in the report.
The Cantonal Court of Zug in Switzerland has dismissed Schenker Winkler Holding AG (SWH) request to review a decision by Sika’s Board of Directors to reduce the company’s voting rights to 5 percent. The Burkard family-owned company controls 16.1 percent of Sika’s capital and had 52.4 percent in voting rights. But now that SWH is limited to 5 percent voting rights, it can’t call an official meeting, making it more difficult for French building materials company Saint-Gobain to proceed with its deal to purchase SWH for $2.84 billion USD (CHF 2.75 billion). The deal was designed to give controlling interest in Sika to Saint-Gobain.
More than 100 senior managers at Swiss specialty chemical company Sika AG have signed a letter stating their opposition to the French conglomerate Saint-Gobain’s bid to acquire controlling interest in the company, according to a report. The letter was sent … Continue reading
French conglomerate Saint-Gobain’s deal to acquire a controlling interest in Swiss specialty chemical company Sika AG appears to have had the brakes thrown on it. The Sika Board of Directors has decided the Burkard’s family voting rights in the company should be reduced to 5 percent. The Saint-Gobain deal hinged the Burkard’s family’s agreement to sell Schenker Winkler Holding AG to Saint-Gobain. The family-owned company controls 16.1 percent of Sika’s capital and 52.4 percent of its voting rights, which would have paved the way for Saint-Gobain to gain controlling interest of Sika.
As Sika AG continues to push back against French conglomerate Saint-Gobain’s move to seek controlling interest in the company, the Swiss specialty chemical company also has released its 2014 financial results. The company reports 13.0 percent sales growth to 6.38 … Continue reading
The management of Swiss specialty chemical company Sika AG continues to push back against French conglomerate Saint-Gobain’s move to seek controlling interest in the company. Several investors are supporting management’s position, including the Bill & Melinda Gates Foundation Trust, Cascade Investment LLC, Fidelity Worldwide Investment, Threadneedle Investments and the Ethos Foundation. Meanwhile, representatives of Saint-Gobain asked Sika officials to meet in Zurich today in an attempt to clear the way for the deal to go forward.
France-based Saint-Gobain, a building materials company which has its North American headquarters in Valley Forge, Pa., is celebrating its 350th anniversary this year. In October 2014, the company announced it would be opening a flat glass manufacturing plant in Asia that will allow it to double its output for automotive glass products from the current figure of one million to two million by 2020. Saint-Gobain is also making headlines for its bid to acquire Swiss specialty chemical company Sika AG.
Swiss specialty chemical company Sika AG has announced it will hold an investor meeting to discuss Saint-Gobain’s (SGO) move to seek a controlling interest in the company.
Schenker Winkler Holding AG, which is owned by the family that controls Sika AG, has requested the Swiss specialty chemical company hold an extraordinary general meeting and proposes to remove Dr. Paul Hälg, Monika Ribar and Daniel Sauter as current members of the board. Schenker Winkler, which holds the majority voting rights in Sika, is slated to be sold to Saint-Gobain—giving the French conglomerate a controlling interest in the Swiss specialty chemical company. Sika’s board and management have voiced their opposition to the deal.
Saint-Gobain plans to acquire a controlling interest in chemical company Sika AG, which specializes in the development and production of systems and products for bonding, sealing, damping, reinforcing and protecting in the building sector and automotive industry. The Sika board and management team say they are not in favor of the move and will “resign following closing of the transaction,” according to a company statement.
Saint-Gobain and Central Glass Co. Ltd. have just signed an agreement to create a joint venture in Indonesia that will specialize in automotive glass. Each group will have a 50-percent stake in the new company.
Saint-Gobain and Central Glass Co. Ltd. plan to build an automotive glass plant in Jakarta, Indonesia, due to go into production in 2016.
Saint-Gobain reports that its flat glass division sales are up 4.5 percent “like-for-like” (constant exchange rates and group structure) for the first quarter, “driven by brisk automotive markets in all regions,” according to company officials.
The General Court of the European Union has reduced the fine imposed on Saint-Gobain for illegal market sharing and exchange of commercially sensitive information regarding deliveries of automotive glass in the European Economic Area (EEA) from $1.2 billion in U.S. dollars (€880 million Euros) to $984 million in U.S. dollars (€715 million Euros). The fine was imposed in 2008 and Saint-Gobain had asked the court for an annulment of the decision.