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13 Nov 2023 09:59
SAINT-GOBAIN further STRENGTHENS ITSposition 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 and follow us on X @saintgobain
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