Compagnie de Saint-Gobain S.A. (ENXTPA:SGO) announced that it has entered into exclusive negotiations with the Chausson Group with a view to acquiring the Panofrance, a specialist distributor of timber and panels for the construction and furnishing industries. This acquisition will allow Saint-Gobain to increase the density of its geographical footprint on the fast-growing market of timber-based building systems providing lightweight and rapid-implementation solutions. The strongly favorable outlook for timber products is underpinned by the new RE2020 environmental regulation in France, set to come into force on January 1, 2022, and by upbeat momentum on markets for renovation based on timber-frame extensions and building elevations. Thanks to its acquired purchasing experience and the strict implementation of its timber policy, Saint-Gobain can ensure the development of an offer incorporating timber from sustainably managed forests. Following the recent acquisition of timber construction specialist Brüggemann in Germany, Saint-Gobain therefore continues to grow on this dynamic lightweight construction market thanks to its solutions for sustainability and performance. Following completion of the information and consultation procedure with the employee representative bodies, and subject to the approval of the relevant competition authorities, this project is expected to be finalized in the fourth quarter of 2021.