Saint-Gobain sales up 3.7%
Saint-Gobain said first-quarter sales increased 3.7% to EUR10.16 billion (US$13.3 billion) as higher prices offset falling volumes.
"Amid an uncertain economic climate and despite a particularly tough basis for comparison, Saint-Gobain delivered further organic growth in the first quarter of 2012. We continued to raise our sales prices in order to broadly offset the rise in raw material and energy costs over the year," said Pierre-Andre de Chalendar, chairman and chief executive officer.
The company expects "moderate" organic growth for the remainder of 2012.
Business was stronger in North America, where sales improved nearly 17% from upbeat industrial markets and the start of a recovery in residential construction in the U.S., while sales in Western Europe were weaker. Construction Products (CP) sales moved up 3.7%.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
