Saint-Gobain has agreed to sell COVIPOR, its glass processing business in Portugal, to PNI Portugal & Permanente SA. COVIPOR has two locations in Porto, Portugal, with around 100 employees. The company recorded around $21 million* in sales in 2022.
The sale is expected to close in the third quarter of 2023.
Saint-Gobain officials say the move is part of the company’s business profile optimization strategy.
*Converted from EUR to USD on July 11, 2023