France's Saint Gobain, a global leader in construction, building materials and glass, is in talks to acquire the pipes division of Electrotherm (India).
The estimated valuation of Electrotherm's pipe division, which has an annual capacity of about 200,000 tonnes, is likely to be nearly Rs 300-350 crore, people aware of the talks told ET.
"There have been preliminary discussions but nothing has been finalised yet. It's too early to comment at this stage," said Electrotherm MD Shailesh Bhandari.
An email sent to Saint Gobain failed to elicit response. The 40-billion-euro French company already has a presence in float glass in India. Water distribution is a growing industry in India mainly due to demand for uniform water supply from urban centres and towns and thermal power plants that have huge water requirement.
