Saint-Gobain has signed an agreement regarding the sale of its subsidiary Saint-Gobain Calmar to MeadWestvaco Corporation. Calmar is a global manufacturer of plastic dispensing and spraying systems for cosmetics and fragrance, personal care as well as pharmaceutical industries.

The transaction values Calmar at $745 million (of which $710 million in cash paid by MeadWestvaco and $35 million of eliminated commitments by Saint-Gobain). Acquired by the Saint-Gobain Group in 1998, Calmar reported pro-forma sales of $403 million in 2005 and has approximately 2,700 employees based in 10 production sites.

Calmar will benefit from MeadWestvaco’s financial capacity and global packaging strategy, which should support its future development as a major player in its business, according to a statement by Saint-Gobain.

With annual revenues exceeding $6 billion, MeadWestvaco is a global packaging company in the food and beverage, media and entertainment, personal care, cosmetic and healthcare industries. MeadWestvaco employs approximately 23,000 people around the world.

The completion of the transaction, which is subject to the approval of the relevant anti-trust authorities, should be effective before the end of June 2006.