09 May 2012
Saint-Gobain has agreed to purchase all outstanding shares of Sage Electrochromics and will own 100% of the company upon completion of the transaction, the company announced today.
This deal, according to Saint-Gobain, will help Sage expand into international markets, develop new products and complete construction of the company’s new manufacturing facility in Faribault, Minnesota, US. The new facility, scheduled to start production in January 2013, is expected to produce 3.2 million sq. ft. of electrochromic glass annually, supporting the creation of 160 green technology jobs.
While Sage will be a wholly owned subsidiary of Saint-Gobain, the SAGE portfolio will continue to go to market under the SageGlass brand.
Electrochromic glass changes from a clear state to a tinted state. It can be integrated with a building management system or activated at the push of a button to control the sunlight and heat that enters and leaves a building. It reduces energy consumed for air conditioning, heating and lighting while providing daylight and eliminating glare.