French investor swoops for Saint-Gobain pipes division

Saint-Gobain has disposed of its pipes subsidiary to French institutional investor Aldebaran.

PAM Building has two production plants, in Bayard (Haute-Marne, France) and in Telford, employing 400 people and generating revenues of around €110m in 2023.

The site in Telford started life in the 1700s as a coalmine and went on to design, manufacture and supply drainage systems for 150 years.

A minority stake in PAM Building has also been made from Bpifrance, the French Public Investment Bank.

This divestment project is part of Saint-Gobain’s continued business profile “optimisation strategy”.