The reinforcements and composites business being acquired had a turnover of £480.8m in 2006
Building products giant Saint-Gobain has confirmed agreements to sell its reinforcements and composites businesses to rival Owens Corning.
Owens Corning will pay $640m (£315.2m) for the businesses, which in 2006 had a combined turnover of euro 715m (£480.8m)
The deal is expected to be closed by the end of 2007.
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