• 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 the cyclical construction sector and some exposure to the automotive industry, 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 European anti-trust litigation for flat glass The ratings on France-based construction and engineered materials manufacturer and distributor Compagnie de Saint-Gobain reflect its strong business profile, underpinned by a broad business mix and geographic
