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Saint-Gobain Sales Drop Amid European Construction Slowdown

Post Time:Apr 26,2013Classify:Industry NewsView:30

Saint-Gobainreported first-quarter sales dropped 4.8 percent amid a construction slump and cold weather in Europe, according to Bloomberg. Sales declined to $12.6 billion, company officials said in an April 25 statement.

In response, CEO Pierre-Andre de Chalendar is cutting investments, selling businesses and raising prices to adjust to the European car and construction slump that has hurt demand for flat glass and building materials, and put the company’s credit rating under pressure, Bloomberg reports.

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