Compagnie de Saint-Gobain Acquisition (2429T)
13 November 2023 - 10:59AM
UK Regulatory
TIDMCOD
RNS Number : 2429T
Compagnie de Saint-Gobain
13 November 2023
SAINT-GOBAIN further STRENGTHENS ITS
position in construction chemicals IN SAUDI ARABIA
Saint-Gobain has entered into a definitive agreement to acquire
Izomaks Industries LLC (Kingdom of Saudi Arabia) , a leading
manufacturer of waterproofing products (floors, roofs) in Saudi
Arabia .
Izomaks operates two manufacturing facilities in Riyadh, employs
around 140 people and will generate revenues of approximately EUR60
million in 2023.
This acquisition perfectly complements our existing building
envelop offering in Saudi Arabia where Saint-Gobain has been
present since 2007, currently operating 3 manufacturing plants in
insulation and mortars (tile fixing, façade renders, flooring and
technical mortars) and employing around 320 people.
By enhancing the range of solutions offered, this acquisition
will accelerate the growth of Saint-Gobain in the Gulf countries,
characterized by fast economic development and major construction
projects in the coming years (Vision 2030 in Saudi Arabia, Vision
2050 in the United Arab Emirates, Vision 2040 in Oman).
Closing of the transaction is subject to customary conditions
and expected by the end of 2023.
The acquisition of Izomaks Industries LLC in the Kingdom of
Saudi Arabia is in line with Saint-Gobain's strategic plan, "Grow
& Impact", which aims to both strengthen the Group's leadership
and accelerate its presence by enriching its range of solutions for
light and sustainable construction.
About Saint-Gobain
Worldwide leader in light and sustainable construction,
Saint-Gobain designs, manufactures and distributes materials and
services for the construction and industrial markets. Its
integrated solutions for the renovation of public and private
buildings, light construction and the decarbonization of
construction and industry are developed through a continuous
innovation process and provide sustainability and performance. The
Group's commitment is guided by its purpose, "MAKING THE WORLD A
BETTER HOME".
EUR51.2 billion in sales in 2022
168,000 employees, locations in 75 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain, visit
www.saint-gobain.com and follow us on X @saintgobain
Analyst/investor relations Press relations
Vivien Dardel: +33 1 88 54 29 77 Patricia Marie : +33 1 88 54 26 83
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Floriana Michalowska: +33 1 88 54 19 09 Laure Bencheikh : +33 1 88 54 26 38
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Alix Sicaud: +33 1 88 54 38 70 Flavio Bornancin-Tomasella : +33 1 88 54 27 96
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James Weston: +33 1 88 54 01 24
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END
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