Saint-Gobain sells silicon carbide powders business

2019-06-01

Jun. 1, 2019 - French materials firm Saint-Gobain recently closed the sale of its silicon carbide grains and powders business to Open Gate Capital, a private equity firm, the company announced in a May 14 release. 

“This transaction is in line with Saint-Gobain’s portfolio optimization strategy aimed at divesting businesses representing sales of more than €3 billion by end-2019,” Saint-Gobain’s release said. 

The silicon carbide division generates about €120 million in annual sales, serving customers in Europe, South America, North America, and Asia. Applications for the powders and grains include metallurgy, filtration, terchnical ceramics, and refractory materials.  

Saint-Gobain entered into an exclusive agreement to sell the business to OpenGate Capital in January this year. Financial terms of the transaction were not disclosed. 

Under the new ownership, the silicon carbide division will be renamed Fiven S/A, OpenGate Capital said in a separate press release.