Multinational enters talks to sell drainage solutions division

A West Midlands company specialising in cast iron above and below ground drainage systems for commercial, public, and residential buildings is set to be sold by Saint-Gobain.

Saint-Gobain has entered negotiations to sell its PAM Building division, which specialises in manufacturing sanitary and rainwater drainage solutions.

The discussions involve Aldebaran, a French institutional investment fund, with Bpifrance, the French Public Investment Bank, acquiring a minority stake.

PAM Building operates two production plants, one in Telford, Shropshire, and the other in Bayard, Haute-Marne, France and employs 400 people.

It would enable Saint-Gobain PAM to focus on its core business of producing and delivering comprehensive water transport and supply networks.

The transaction is expected to close by the end of 2024.