Acquisition

RNS Number : 6864Q

Compagnie de Saint-Gobain

22 February 2023

 

 

 

 

SAINT-GOBAIN to enter THE GLASS WOOL INSULATION MARKET in india

 

Saint-Gobain has entered into a definitive agreement to acquire U.P. Twiga Fiberglass Ltd.(UP Twiga), the leader on the glass wool insulation market in India.

 

UP Twiga operates two manufacturing facilities close to Delhi and Mumbai. The company has been a licensee of Saint-Gobain technology since 2005 for the manufacture of glass wool in India and its solutions offer a wide range of applications.

 

Together with the recent acquisition of Rockwool India Pvt Ltd. in stone wool and Saint-Gobain's number 1 positions in plasterboard and glass, UP Twiga consolidates Saint-Gobain's positioning in interior and façade solutions in India, set to benefit from higher building performance requirements and the strong need for acoustic and thermal comfort as well as energy-efficient solutions.

 

Saint-Gobain India is a leader in promoting green buildings in the country with its comprehensive range of solutions for light and sustainable construction, its market and customer-led innovation, and its strong brand recognition. The Group currently operates33 manufacturing sites across India and has been significantly investing for growth in the country in recent years.

 

This transaction is subject to the completion of certain conditions and approvals from the competent authorities. It is expected to be completed by the end of the first quarter of 2023.

 

The acquisition of UP Twiga is in line with Saint-Gobain's "Grow & Impact" strategy aiming to both strengthen the Group's leadership and accelerate its growth by enriching its range of solutions for light and sustainable construction.

 

 

ABOUT SAINT-GOBAIN

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufacturesand 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 decarbonizationof 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".

 

€44.2 billion in sales in 2021

166,000 employees, locations in 76 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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