Romania: Saint-Gobain Romania has signed a 5-year renewable power purchase agreement (PPA) with OMV PetRom. Under the PPA, OMV PetRom will provide power from wind and solar power plants to Saint-Gobain Romania, beginning in January 2026. Total energy supplied under the contract will be 800GWh. This will cover 100% of the producer’s electricity consumption.
Knauf to transfer Russian business to local management
Russia: Knauf is seeking to transfer its ‘entire business in Russia’ to its local management, pending the approval of Russian authorities. The Kyiv Independent newspaper has reported that Knauf elected for the transfer in order to protect the jobs of 4000 employees in the country.
Saint-Gobain publishes first-quarter 2024 results
France: Saint-Gobain recorded €11.4bn in sales in the first quarter of 2024, down by 8% year-on-year compared to first-quarter 2023 levels. Group sales volumes fell by 4.7%, partly due to a 1.5% negative working day effect. Meanwhile, a negative group structure effect reflects on-going optimisation. New acquisitions during the first quarter of 2024 included Australia-based building materials producer and land banking entity CSR.
Saint-Gobain’s sales dropped by 10% in Europe, the Middle East and Africa, but grew by 6% in the Americas, where the group noted a ‘dynamic’ renovations market. Its sales also grew, by 4.5%, with ‘strong momentum’ in India. In Saint-Gobain’s High Performance Solutions business, sales declined by 5.4% year-on-year. The business’ sales to construction customers fell by 6.7% amid a decline in new project starts in Europe.
Saint-Gobain forecast resilience in the remainder of 2024, through its focused strategy and proactive commercial and industrial initiatives. It expects new construction to end its decline in Europe and all segments to ‘hold firm’ or recover in the Americas.
German prosecutor opens initial investigation into Knauf’s activity in Russian-occupied Ukraine
Germany/Ukraine: The Würzburg Prosecutor's Office has opened a preliminary investigation into Knauf over its alleged involvement in the on-going reconstruction of Russian-occupied Mariupol. The investigation will seek to establish whether an ‘initial suspicion’ of criminal activity exists. Germany-based media outlet ARD published its allegation of Knauf’s involvement in the reconstruction via the use of its materials earlier in April 2024. The Würzburg Prosecutor's Office added that "There is currently no initial suspicion against Knauf employees."
The producer denied the allegations, adding that it complies with relevant laws and sanctions.
