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Saint Gobain of France has sold Ashworth, the Coventry-based pipes and valves distribution firm with 135 staff at six sites, to GIL Investments.
Saint-Gobain is to set up a 64,000 sq ft distribution centre for its International Decorative Surfaces business at Parkhouse Industrial Estate near Newcastle-under-Lyme by the end of the year.
Saint Gobain is to invest £15m in a new magnetron coating facility at its float glass plant in Eggborough, with the creation of 60 jobs.
Saint Gobain Pipelines is investing £6m at its ductile iron plant at Risca in South Wales, in order to expand production of access covers, gullies and grates.
Saint Gobain of France has acquired Oliver Ashworth, the pipeline products distributor, for £34m, and further UK acquisitions could follow.