Saint-Gobain wins $200m Kuwait contract
Paris, April 10, 2013
Saint-Gobain PAM, a global leader in the habitat and construction markets, designs, manufactures and distributes building materials market, has clinched a 154 million euros ($200 million) contract to supply pipes and fittings for Kuwait Ministry of Electricity & Water.
The parent company of Saint-Gobain's Pipe Activity said the contract represents a total order of 120,000 metric tons of large-diameter ductile cast iron pipes for the Pont-a-Mousson plant in France.
The Az-Zour contract will be executed over a period of 15 months.
An initial order under the contract, worth $40 million has already been recorded, with delivery scheduled for the end of the second quarter, said a statement from the company.
A second order, worth around $80 million, should be executed in the second half of the year, it stated.
This contract reflects Saint-Gobain PAM's position as a world leader in drinking water supply systems - an area with considerable growth potential in the years ahead -, as well as its contribution to the Group's strategy through its ability to offer appropriate solutions to major societal and environmental challenges in both mature and fast-growing economies, the statement added.
Saint-Gobain's Pipe Activity, which employs 10,000 people around the world, generated sales of 1.6 billion euros in 2012.-TradeArabia News Service