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 cost management Very acquisitive strategy and moderate financial policy Large exposure to cyclical construction markets, further increasing with current business repositioning and expected exit from packaging activities Sensitivity to cost of energy and raw materials Exposure to asbestos liabilities in the U.S., and anti-trust issues for flat glass The ratings on France-based engineered materials manufacturer Compagnie de Saint-Gobain reflect its strong business profile, underpinned by a broad business mix and geographic diversity. Also supporting the ratings are the group's large size and solid positions in--and strategic focus on--activities mainly subject only to
