The Saint-Gobain French construction materials maker has completed an agreement of $ 1.025 million in cash to buy the Dubai Fosroc construction chemical company company. The acquisition, announced last year, follows 33 other Saint-Gobain purchases to advance the presence of the company in the chemical sector.
According to a press release on February 10, Fos Roc will be consolidated in the Saint-Gobain High Performance Solutions Segment, adding 20 chemical manufacturing plants to the Middle East, India and Asia-Pacific to the segment and increases Your head count with about 3,000 employees.
Producing a wide range of additives and additives for concrete and cement, stickers and sealants, Fosroc generated sales of $ 487 million estimated last year, with an average annual growth of 11% since 2021, according to representatives. of the company. Adding fosroc to Saint -Gobain’s The portfolio is expected to increase its income to $ 6.8 billion in chemical construction revenue in 76 countries.
The President and CEO of Saint-Gobain, Benoit Bazin, emphasized that he was “very impressed” with the leadership of Fosroc in a press statement of June 2024, which announced for the first time the acquisition.
“The acquisition of Fosroc is perfectly aligned with our” growing and shocking “strategic plan: it is a unique opportunity for Saint-Gobain to further strengthen its worldwide presence in construction chemicals and strengthen its presence in markets emerging of great growth, in emerging markets, in particular in India and the Middle East, “said Bazin. “The combination of the two groups will allow us to expand our profitable growth platform in construction chemicals.”
Rob Bonnici’s CEO, Rob Bonnici, added: “The opportunity to join Saint-Gobain, world leader under light and sustainable construction and a global player in construction chemicals, is the next perfect step for Improve our offer by taking advantage of Saint-Gobain’s innovation and technology in construction chemicals. “
