Saint Gobain Or Share News (COD)

(Sharecast News) - Saint-Gobain has acquired High Tech Metal Seals (HTMS), a designer and manufacturer of engineered metal seals for the industrial, energy and aerospace markets, it announced on Tuesday.
The Paris and London-listed construction materials firm said the acquisition completed its product range in offering tailor-made solutions in the sealing industry, after the acquisition of American Seal and Engineering, which it described as a leader in technical sealing solutions also used in the energy and aerospace industries as well as in transportation, at the start of 2019.

It said HTMS had developed a "unique and differentiated" niche positioning by providing "very advanced" metal sealing solutions, for use under extreme temperature and pressure conditions.

Founded in 1999, HTMS employs around 50 people at its one site in Belgium.

"This acquisition is in line with the group's strategy of developing technological niches," the Saint-Gobain board said in its statement.

"It will join the Mobility business, extending further the seals product range offering and solutions for critical applications.

"It will accelerate Saint-Gobain's growth, in particular in aerospace, and the business will benefit from our global sales platform, notably in Asia."

At 0857 GMT, shares in Saint-Gobain were up 0.74% in London, at €36.14.