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21 Dec 2021 17:04
PRESS RELEASE
December 21, 2021
SAINT-GOBAIN TO REINFORCE ITS LEADERSHIP POSITION IN THE
LIGHT AND SUSTAINABLE CONSTRUCTION MARKETS IN INDIA
BY ENTERING THE STONE WOOL INSULATION MARKET
Saint-Gobain has entered into a definitive agreement with Alghanim group for the acquisition of its 100% subsidiary, Rockwool India Pvt Ltd., a major manufacturer of stone wool in India with a wide range of insulation products for thermal, acoustic and fire safety applications. Rockwool India Pvt Ltd. is a licensee of Saint-Gobain technology for the manufacture of stone wool in India.
Rockwool India has two manufacturing facilities in India, one in Hyderabad and another in Silvassa, with a total capacity of around 50,000 tons. It has a strong marketing network across the country.
This acquisition is fully in line with Saint-Gobain's "Grow & Impact" plan and will strengthen the Group's presence and accelerate its growth in Asia, in particular in India.
Saint-Gobain India is a leader in promoting green buildings in the country with its solutions for light and sustainable construction and thanks to its market and customer led innovation. The Group currently operates 29 plants across India and has been investing for growth in the country in recent years, it as well as developing solutions that combine sustainability and performance.
Entering into insulation in India, the Group will reinforce its presence in the country, adding to its leading positions in glass, gypsum and construction chemicals.
This transaction is subject to the completion of conditions set out in the agreement and approvals from the competent authorities. It is expected to be completed in first quarter of 2022.
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".
€38.1 billion in sales in 2020
More than 167,000 employees, located in 72 countries
Committed to achieving Carbon Neutrality by 2050
For more information about Saint-Gobain
visit www.saint-gobain.com and follow us on Twitter @saintgobain
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