France's Saint Gobain, a global leader in construction, building materials and glass, will acquire electrotherm's iron pipe business and 100 per cent stake in a subsidiary of the company for Rs 950 crore. The transaction will be subject to the terms and condition as set out in the binding agreement entered by the parties. The company which achieved sales of over Rs 2,300 crore in 2010-11, is India's largest manufacturer of induction melting furnace and refining equipment.