A consortium of institutional investors, agreed to acquire a 67% stake in the Chinese pipeline business of Saint-Gobain, a diversified industrial manufacturer, for $80m. This transaction results in the divestment of Saint-Gobain's control of PAM China, whilst allowing its link with the Pipe business in Europe to be maintained by way of a long-term industrial partnership. It is part of Saint-Gobain's continued portfolio optimization strategy to enhance the Group's growth and profitability profile.