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Solar Gard Specialty Films, a San Diego based maker of window films which had its beginnings herein 1977, agreed to be sold to an Ohio division of Saint-Gobain Group of France for an undisclosed price.
Solar Gard is owned by Bekaert, a $6 billion Belgium corporation. The buyers will continue to operate Solar Gard's production plant and its support services to some 3,500 customers in the U.S., and maintain current employment of 232 people here, said Bekaert's president.
"We're not planning any reduction in force, realignments or any significant organizational changes," said Christophe Fremont, president of Solar Gard Specialty Films.
While terms of the transaction weren't disclosed, Bekaert said it expects the sale to result in a capital gain of about 10 million euros or $14 million. The sale needs to be reviewed and approved by the Federal Trade Commission.
Solar Gard is a manufacturer and distributor of specialty window films for the automotive, architectural, photovoltaic and custom coating segments. While the company didn't reveal sales, Saint-Gobain said in a news release that Solar Gard's revenue last year was about $150 million.
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