RNS Number : 2429T

Compagnie de Saint-Gobain

13 November 2023


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 
                         ------------------  -----------------------------  ------------------ 
 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 
                         ------------------  -----------------------------  ------------------ 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

November 13, 2023 04:59 ET (09:59 GMT)

Compagnie De Saint-gobain (LSE:COD)
Gráfica de Acción Histórica
De Ene 2024 a Feb 2024 Haga Click aquí para más Gráficas Compagnie De Saint-gobain.
Compagnie De Saint-gobain (LSE:COD)
Gráfica de Acción Histórica
De Mar 2023 a Feb 2024 Haga Click aquí para más Gráficas Compagnie De Saint-gobain.