UPDATE 1-France's Wendel says still committed to St Gobain

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PARIS, June 5 (Reuters) - French investment group Wendel (MWDP.PA) said on Friday it remained a committed shareholder of building materials company Saint Gobain (SGOB.PA), despite rumours that Wendel may cut its stake in the firm.

"We remain a committed shareholder," Wendel Chief Executive Frederic Lemoine told the company's annual shareholder meeting.

Wendel has a stake of around 18 percent in Saint Gobain but has taken a hit on its investment in the building materials company as a result of the economic crisis.

Lemoine also reiterated Wendel's outlook of a possible full-year loss for 2009 but added that Wendel's financial structure remained solid.

"I would like to reassure you of the financial solidity of your company," he told shareholders.

Earlier this year, former Wendel Chief Executive Jean-Bernard Lafonta resigned following a disagreement over strategy. Lafonta was replaced by Lemoine.

Members of the Wendel family, some of whom have clashed over the company's strategy and performance, own around 35 percent of Wendel via the SLPS holding company.

The Wendel family first entered the business world in the 18th century via the manufacturing and steel industries.

In recent years, the Wendel company has moved away from its historic manufacturing roots to focus on its financial investments. (Reporting by Sudip Kar-Gupta, editing by Will Waterman)