sain t-gobain annu al report 2008 annual report

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10 The Ceramics unit comprises four businesses: In the value chain, the Grains & Powders business comes just after the production of silica and zirconium sands, bauxite and other mineral raw materials. Saint-Gobain is the world leader (1) in the purification, crushing, melting and sintering of these materials. It sells high-value suspensions and powders for the ceramics industry (through the Silicon Carbide unit), aluminum oxide and zirconium oxide abrasive grains, and finished products. Typical products include pigment powders for home ceramic tiles and proppants used to enhance oil reservoir recovery rates. The global market leader (1) in Ceramics, Saint-Gobain serves a wide range of industries with products that deliver the remarkable properties of high-performance ceramics, such as exceptional mechanical strength, hardness, heat resistance, controlled porosity, and light weight. Two examples of applications are diesel particulate filters and glass furnaces. The latter are made with refractory ceramics that are particularly sophisticated, especially in furnaces that produce specialty glass for flat screen displays. Refractory ceramics are also used in the steel industry. In addition to exercising leadership in these traditional markets, we have also launched ambitious development projects to address emerging challenges. Abrasives is another business in which Saint-Gobain leads the world (1) , thanks to its expertise in the ceramic grains on which most abrasive products are based. Saint-Gobain Abrasives covers the entire spectrum of abrasives, providing expertise and solutions at every process stage, from slabbing and cutting to polishing, grinding and surface-finishing. The markets served are also wide-ranging, including construction and homebuilding (from rough cutting of concrete walls and floors to sanding of wooden floors and polishing for decorative finishes), heavy industry (in steelworks and paper mills), and manufacturing and high-tech industries (automotive, aerospace and electronics). Innovation is a key factor in this business, driving the development of increasingly efficient and reliable products that are easier to use and longer lasting. In 2008, a new plant came on stream at Shuzhou, China, strengthening our position in the industrial and construction abrasives markets, both of which are experiencing double-digit growth in China. Crystals are used in many advanced technologies for their optoelectronic and other unique properties. For example, crystals are used to make light-emitting diodes (LEDs), a highly energy-efficient lighting solution for the future that we are actively helping to develop by supplying sapphire substrates and gallium nitride. Major contracts have also been won in the security sector, for the scintillation crystals used in X-ray gates, and a new line of medical imaging crystals has been developed, which enable the earlier detection of disorders. Thanks to Performance Plastics, the High-Performance Materials Division has developed considerable technological expertise in the production of polymers delivering such remarkable properties as high-temperature resistance, chemical stability and purity, and special mechanical and surface properties. As such, they are in high demand for a broad range of new applications in the automotive, aerospace, healthcare and construction industries. One example is the architectural membranes made of fluoropolymer-coated glass fabric, which are now widely used in major construction projects for their robustness, light weight, ultra-violet resistance, soil resistance, and acoustic correction capabilities. The Performance Plastics business comprises three units: Composites (films, foams and coated fabrics for construction and industry), Bearings & Seals (for the automotive and aerospace industries), and Fluid Control Systems (for the healthcare and electronics industries). In 2008, the business acquired Green Glue, a manufacturer of visco-elastic soundproofing materials. The Textile Solutions business makes and sells glass fiber yarns and fabrics, chiefly for construction and homebuilding applications. We operate in some of the most buoyant segments of these markets, with groundbreaking solutions such as glass fabrics for façade insulation, a technique increasingly used in Europe for renovation work and new buildings. Another example of development work is the range of paintable glass fabrics, a simple, elegant interior decoration solution that Saint-Gobain has further enhanced with acoustic correction capabilities. Saint-Gobain - 2008 Annual Report (1) Source Saint-Gobain.
High-Performance Materials Businesses and Products Main Applications Main Competitors (1) Competitive Ranking (1) Ceramics Grains & Powders Refractories Advanced Ceramics • Raw materials for abrasives and ceramics industries • Mineral pigments for domestic ceramics Catalyst substrates for the petrochemical industry • Proppants for the oil industry • Ceramic balls for micro-grinding applications • Ceramic blocks for the manufacture of industrial furnaces for glass, ceramic, metallurgy and energy applications (including special glass for LCD and PDP screens) • Armor plating for the defense industry • Fine ceramics for the home appliance, automotive, aviation, aerospace, electronics, nuclear, oil and petrochemical industries • Carbo Ceramics (United States) • Imerys (France) • Asahi (Japan) • Cookson Vesuvius (UK) • Kyocera (Japan) • CeramTec (Germany) • NGK Insulators (Japan) • No. 1 worldwide in silicon carbide • No. 1 worldwide in zirconiumbased abrasives • No. 1 worldwide in ceramic balls • No. 2 worldwide in proppants • No. 1 worldwide in refractories for glass and non-ferrous metal industries • No. 1 or No. 2 worldwide, depending on the application Diesel particulate filters Crystals Abrasives Bonded abrasives • Filters to abate diesel engine soot and NO x emissions • Sensors for medical imaging, oil exploration and security and safety applications • Substrates, components and equipment for the semi-conductor, light-emitting diode and optical industries • Roughing, grinding and sharpening of materials and tools in aerospace, automotive, metal processing, steel and bearings industries • Ibiden (Japan) • NGK (Japan) • Corning (United States) • Kyocera (Japan) • II-VI (United States) • Heraeus (Germany) • Carbo plc (UK) • Noritake (Japan) • Tyrolit (Austria) • No. 3 worldwide • No. 1 worldwide in scintillation systems • No. 2 or No. 3 worldwide in LED substrates STRATEGY AND BUSINESSES Thin grinding wheels Coated abrasives • Cutting, deburring, metal processing, maintenance, energy, steel, construction and DIY applications • Surface treatment and sanding applications in aerospace, automotive, furniture, hand tools, steel, jewelry, watchmaking and biomedical industries • SAIT (Italy, United States) • Tyrolit (Austria) • Comet (Slovenia) • 3M (United States) • Hermes (Germany) • Klingspor (Germany) • SIA (Switzerland) • World leader in every abrasive business 11 Superabrasives • Precision tools for aerospace, automotive, bearings, cutting tools, electronics and composite materials industries • Glass industry • Building materials industry • Asahi (Japan) • Diamant Boart (Belgium) • Noritake (Japan) • Wendt Boart (Belgium) Performance Plastics Bearings and Seals • Friction parts for automotive, aerospace and industrial machinery applications • Trelleborg (Sweden) • Glacier Garlock (United States) • No. 1 worldwide in automotive bearings Fluid control systems • Tubes, valves and connectors for fluid control systems in agri-food, bio-medical, automotive and semiconductor industries • Entegris (United States) • Stedim (France) • Parker Hannifin (United States) • Kuriyama (Japan) • No. 2 worldwide in specialty pipes Films, foams & coated fabrics • Adhesive coatings, architectural units, radomes, protective gear, cooking surfaces, composite material molds, metal-glass seals for the automotive and construction industries • 3M (United States) • Rogers (United States) • DuPont (United States) • Nitto Denko (Japan) • No. 1 worldwide in fluoropolymer-coated fabrics Textile Solutions Glass fiber yarn • Bobbins of glass fiber yarn for the textile industry • AGY (United States) • P.P.G. (United States) • Nittobo (United States) • No. 1 worldwide in construction fabrics Reinforcement fabrics for construction and manufacturing • Wall facing reinforcements, paintable fabrics, mosquito netting, strengtheners for roof waterproofing systems, geotextiles • Johns Manville (United States) • Phifer (United States) • Vitrulan (Germany) • No. 1 worldwide in paintable fabrics • No. 1 worldwide in construction fabrics (1) Source Saint-Gobain. Saint-Gobain - 2008 Annual Report
Page 1 and 2: 2008 annual report
Page 3 and 4: Contents 05 • Strategy and busine
Page 5 and 6: 3 STRATEGY AND BUSINESSES Jean-Loui
Page 7 and 8: Strategy and Businesses of Saint-Go
Page 9 and 10: Responding to recession by demonstr
Page 11: The High-Performance Materials Divi
Page 15 and 16: Insulation products are made from m
Page 17 and 18: Construction Products Businesses an
Page 19 and 20: Finland, Estonia, Lithuania and Pol
Page 21 and 22: ecovered glass can be recycled inde
Page 23: The “Germ-free Surfaces” progra
Page 26 and 27: 24 2008 results dampened by the fin
Page 28 and 29: holders of the parent contracted 7.
Page 30 and 31: 28 2008 business review 2008 sales
Page 32 and 33: 30 The Division also continued to e
Page 34 and 35: 32 In the Nordic countries, Dahl de
Page 36 and 37: Sustainable development 34 Sustaina
Page 38 and 39: Environment Challenges Action taken
Page 40 and 41: 38 I. Products and services contrib
Page 42 and 43: 40 Sun Saint-Gobain is a major supp
Page 44 and 45: 42 a British trade association that
Page 46 and 47: 44 Mobilizing resources to deploy t
Page 48 and 49: 46 EHS auditors are drawn from a po
Page 50 and 51: 48 Lastly, we make every effort to
Page 52 and 53: To help them to implement the plan,
Page 54 and 55: 52 Wood dust is primarily an issue
Page 56 and 57: 54 BRØDRENE DAHL’S PROGRAM FOR R
Page 58 and 59: 56 2008-2010 OBJECTIVE Saint-Gobain
Page 60 and 61: 58 warehouses and other similar spa
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product developed in 2006 by Lapeyr
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62 Internships during a student’s
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64 Geographical and job mobility is
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66 SAINT-GOBAIN AND THE BROAD-BASED
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68 Honest, open, high quality socia
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70 Construction Products The Constr
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72 IV. Values supporting responsibl
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74 INTERNATIONAL CORPORATE FOUNDATI
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76 In countries facing certain soci
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78 for example, 91% of the Group’
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ENVIRONMENTAL INDICATORS 2007 2008
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Trading volume since September 2007
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Trading volume since September 2007
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Changes in capital over the last fi
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88 The decision to grant stock opti
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Information Policy and 2009 Financi
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92 Yuko HARAYAMA Professor at Tohok
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Other directorships and positions h
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96 Director’s name and current ma
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98 • Committees of the Board. Thr
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100 The Committee’s remit, as def
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• The Annual General Meeting of J
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4. Stock options granted to the Cha
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106 Management compensation In Grou
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Fees paid by the Group to the Audit
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110 Related party agreements Relate
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112 The audits are based on a 20-st
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114 being applied. The TAS framewor
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Statutory Auditors’ report Prepar
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Commitment concerning the payment o
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120 Restructuring risks The Group h
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122 • Volumes are not material, o
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124 or any specific illness or phys
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The level of coverage is considered
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Consolidated balance sheet at 31 De
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Consolidated income statement (in
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Statement of recognized income and
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Notes to the consolidated financial
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136 Non-current assets held for sal
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138 asset’s fair value less costs
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140 Fair value of financial instrum
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142 Other business income and expen
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2006 In 2005, the Group acquired th
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NOTE 4 Other intangible assets Pate
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NOTE 6 Investments in associates (i
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150 NOTE 8 Inventories Dec. 31, Dec
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Movements relating to stock options
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The plan costs are calculated under
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The following tables show the funde
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Actuarial assumptions used to measu
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The effective tax rate paid by the
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Provisions for claims and litigatio
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isks is hedged wherever possible wi
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Bond issues On June 13, 2008, Saint
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NOTE 19 Financial instruments Deriv
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NOTE 21 Business income by expense
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The weighted average number of shar
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174 In addition, as of December 31,
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NOTE 28 Related-party transactions
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Innovative Construction Building Pa
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Information by geographic area Fran
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182 Principal fully consolidated co
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II - Justification of our assessmen
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Income statement at December, 31 (i
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Balance sheet at December, 31 ASSET
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Cash flow statement (in € thousan
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Risk management/Financial instrumen
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NOTE 5 Intangible assets Intangible
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Changes in Compagnie de Saint-Gobai
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Grant stock options exercisable for
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9.4 Compagnie de Saint-Gobain Group
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NOTE 12 Debt and payables Total deb
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12.1 Perpetual bonds In 1985, Compa
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NOTE 14 Investment portfolio Countr
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COMPANIES Capital Reserves % Book v
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NOTE 18 Fees paid to the Statutory
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Asbestos-related litigation in Braz
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Statutory Auditors’ report on the
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Main subsidiaries by country and de
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Saint-Gobain Vetrotex Deutschland G
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Saint-Gobain Construction Products
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Saint-Gobain Building Distribution
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Subsidiaries: Saint-Gobain Technica
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CHINA €1 = CNY 10.227 Saint-Gobai
Page 230 and 231:
Table of concordance 1 Person respo
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COMPAGNIE DE SAINT-GOBAIN France He
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Notes 232 Saint-Gobain - Financial
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Saint-Gobain photo library ; p1 ©
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