Superior product, geographic, and business diversity. Large size and leading competitive positions in all activities. Exposure to renovation end markets, energy saving applications, and local rather than global competition. Good track record of containing operating costs and capital expenditures. An acquisitive growth and investment strategy. Sizable exposure to the cyclical construction sector and some exposure to the volatile auto industry. Sensitivity to the cost of energy and raw materials and foreign currency translation fluctuations. Exposure to asbestos liabilities in the U.S., and antitrust litigation in Europe related to flat glass. The ratings on leading France-based construction and engineered materials and solutions manufacturer and distributor Compagnie de Saint-Gobain reflect Standard&Poor's Ratings Services' view of the company's "strong" business risk
