By Inti Landauro
PARIS--French construction material maker Compagnie de Saint-Gobain SA (SGO.FR) said Thursday that business in Spain was difficult in the first quarter of this year as a result of the crisis in that country's construction industry.
"Today, the situation is difficult and our teams in Spain show a great capacity to adapt," Saint-Gobain Chief Executive Pierre-Andre de Chalendar said at the company's annual shareholder's meeting.
Sales in Spain represent 4% of total sales for the company, said Mr. de Chalendar.
The construction industry has been facing difficulties since a real-estate bubble burst a few years ago, amid a credit squeeze in the country. The country's property market hasn't recovered since then.
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(END) Dow Jones Newswires
June 07, 2012 11:45 ET (15:45 GMT)
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