Saint-Gobain Posts 12% Increase in First Quarter Sales
Flat Glass reported 10.8% organic growth, powered mainly by volume gains. The strong recovery of the global automotive market and bullish economic conditions in Asia and emerging countries have now been joined by the gradual pickup in construction markets in Western Europe. Against this backdrop, sales prices increased over the period, for both commodity products (float glass) in Europe and processed products, the company reports.
“Saint-Gobain’s strong first quarter organic sales growth confirmed the recovery in sales volumes observed in 2010,” said Pierre-Andre de Chalendar, chairman and CEO. “The volume upturn is now also driven by the rebound in residential construction and renovation markets in Europe, amplified by much better weather conditions than in the first quarter of 2010. Thanks to our strategic positioning in high value-added habitat solutions, we achieved higher growth than our underlying markets and have been able to successfully pursue our pricing policy, with sales prices up 2% over the quarter.”
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