REG - Compagnie St-Gobain - Acquisition

Compagnie de Saint Gobain SAAnnouncement

13/11/2023 10:00

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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 €60 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".
 
€51.2 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 (http://www.saint-gobain.com/)
 and follow us on  X
@saintgobain (https://twitter.com/saintgobain)

 

 Analyst/investor relations                Press relations
 Vivien Dardel:         +33 1 88 54 29 77  Patricia Marie :               +33 1 88 54 26 83
 Floriana Michalowska:  +33 1 88 54 19 09  Laure Bencheikh :              +33 1 88 54 26 38
 Alix Sicaud:           +33 1 88 54 38 70  Flavio Bornancin-Tomasella :   +33 1 88 54 27 96
 James Weston:          +33 1 88 54 01 24

 

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