|VALLEY FORGE, PA, May 9, 2012 ||< Return to News Releases|
Saint-Gobain has agreed to purchase all outstanding shares of SAGE Electrochromics, Inc. and will own 100% of the company upon completion of the transaction.
This deal will help SAGE expand into international markets, develop new products and complete construction of the company's new, state-of-the-art manufacturing facility in Faribault, Minnesota. The new facility, scheduled to start production in January 2013, will be the most advanced electrochromic glass facility in the world and is expected to produce 3.2 million sq. ft. of electrochromic glass annually, supporting the creation of 160 green technology jobs.
While SAGE will be a wholly owned subsidiary of Saint-Gobain, the SAGE portfolio will continue to go to market under the SageGlass® brand, leveraging Saint-Gobain's extensive footprint from a global operations center in Faribault.
"Through this action, Saint-Gobain underscores its goal to be the reference in sustainable habitat by developing innovative solutions capable of revolutionizing the habitat market," said Pierre-André de Chalendar, Chairman and CEO of Saint-Gobain. "The result of many years of research, SAGE's products and technologies complement our portfolio of materials. They open up new possibilities in architecture and design by offering creative, value-added glass solutions for the commercial and residential market in order to create buildings that are comfortable, beautiful, energy efficient and environmentally friendly."
Electrochromic glass changes from a clear state to a tinted state. It can be integrated with a building management system or activated at the push of a button to control the sunlight and heat that enters and leaves a building. It significantly reduces energy consumed for air conditioning, heating and lighting, while enhancing occupant comfort and well-being by providing daylight and eliminating glare. This creates a far more appealing design aesthetic standard for the architectural industry compared to the current prevalent use of mechanical window shades and blinds and other building add-ons.
"We are delighted SAGE is joining Saint-Gobain's portfolio of innovative glass and building materials," said John Van Dine, SAGE CEO and founder. "They have been an outstanding partner the past two years, contributing technical and manufacturing expertise, financial support and strategic guidance to the SAGE team, as well as offering access to the company's research centers. The combined patent portfolio of Saint-Gobain and SAGE is quite substantial. We also want to thank the full range of our investors, who have made significant monetary and advisory contributions to SAGE over the years, all of whom helped bring the SAGE vision to fruition since its founding in 1989."
Located in 64 countries and headquartered in Paris with nearly 195,000 employees, Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building materials, providing innovative solutions to meet growing demand for energy efficiency and for environmental protection. For more information about Saint-Gobain, please visit www.saint-gobain.com.
About Saint-Gobain in North America
Saint-Gobain has its North American headquarters in Valley Forge, Pennsylvania. As the world leader in sustainable habitat, Saint-Gobain is committed to inventing solutions to help professionals and communities around the world build and renovate comfortable, healthy, economical and energy-efficient buildings. The company has more than 265 locations in North America and approximately 19,000 employees. In the United States and Canada, Saint-Gobain reported sales of approximately $7.7 billion in 2011. Including SAGE, in Minnesota, Saint-Gobain has nearly 400 employees in six facilities across the state.
Saint-Gobain's family of companies in North America includes CertainTeed Corporation, which offers the most comprehensive portfolio of interior and exterior building products in North America, as well as Saint-Gobain Abrasives, Saint-Gobain ADFORS, Vetrotech Saint-Gobain North America, Saint-Gobain Glass, Saint-Gobain Solar, Saint-Gobain Performance Plastics and more.
Saint-Gobain is the proud recipient of the 2012 ENERGY STAR Sustained Excellence Award by the U.S. Environmental Protection Agency, the highest level of recognition for outstanding contributions to protecting the environment through energy efficiency. For information about Saint-Gobain in North America, visit www.saint-gobain-northamerica.com
About SAGE Electrochromics, Inc.
SAGE Electrochromics is the world's leading manufacturer of electronically tintable glass that can be tinted or cleared to optimize daylight and improve the human experience in buildings. SageGlass controls the sunlight and heat that enter a building, significantly reducing energy consumption while improving people's comfort and well-being. SageGlass can reduce a building's cooling load by 20% and HVAC requirements up to 30%. It is a smarter, more elegant solution than conventional sun controls such as mechanical window shades, blinds and louvers. The company was founded in 1989 and is headquartered near Minneapolis-St. Paul, Minn., in the heart of "the Silicon Valley of the window industry." SAGE has been strategically partnered with Saint-Gobain since 2010.
Dina Pokedoff, APR
External Communications Manager
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