Saint-Gobain Sales Grow Modestly
France-based building materials company Saint-Gobain announced first quarter 2012 sales were up 3.7 percent over the same period last year, hitting $13.4 billion (10.2 billion Euros).
The company employs several thousand employees in Worcester and Northborough.
Pierre-Andre de Chalendar, chairman and CEO, said Saint-Gobain raised its sales prices 2.4 percent to offset the rising cost of raw materials and energy. Sales volume was down 1.5 percent from the first quarter of 2011. Organic growth rose 0.9 percent.
De Chalendar said the rebound in new U.S. construction helped counter a drop in European activity, partly due to harsh winter conditions, and growth slowed in emerging markets like Asia. The company continued to have difficulties in Southern Europe, struggling through a recession.
The company said it's continuing its targets for 2012 of "moderate organic growth, while operating income and profitability should prove resilient."
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