Last checked at 14 Dec 2011 16:53
December 14, 2011
Saint-Gobain's Pipe Activity gains a foothold in India
The Pipe Activity of Saint-Gobain Construction Products Sector has entered, on December 14th, 2011, into an agreement for the acquisition of the ductile iron pipe division of the Electrotherm company. Saint-Gobain Construction Products Sector will acquire the equity stake of an Indian subsidiary of Electrotherm (India) Limited, for an equity value of INR 9.5 billion (around EUR 135 million). The finalization of this acquisition is subject to antitrust clearance in India.
Sales of Electrotherm's Pipe division amounted to INR 5492 million (around EUR 80 million) in 2010 with 715 employees. This fast developing business has two production sites in the states of Gujarat and Karnataka.
Thanks to this acquisition, the Pipe Activity strengthens its global presence.
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