French development supplies producer Saint-Gobain has finalized a $1.025-billion money deal to buy Dubai-based development chemical substances firm Fosroc. The acquisition, introduced final yr, follows 33 different purchases by Saint-Gobain to advance its presence within the chemical substances sector.
Based on a Feb. 10 press launch, Fosroc shall be consolidated into Saint-Gobain’s “excessive efficiency options” enterprise, including 20 chemical manufacturing crops throughout the Center East, India and Asia-Pacific to the section and increasing its head rely with round 3,000 workers.
Producing a variety of admixtures and components for concrete and cement, adhesives and sealants, Fosroc generated an estimated $487 million in gross sales final yr, with common annual development of round 11% since 2021, say firm representatives. Including Fosroc to Saint-Gobain’s portfolio is predicted to spice up its income to $6.8 billion in development chemical manufacturing income throughout 76 nations.
Saint-Gobain Chairman and CEO Benoit Bazin remarked final June in saying the deal that he was “very impressed” with Fosroc’s management. The previous UK firm has been owned by a Dubai-based enterprise since 2002.
“The acquisition of Fosroc is completely aligned with our ‘Develop and Influence’ strategic plan: it’s a
distinctive alternative for Saint-Gobain to additional reinforce its worldwide presence in development
chemical substances, and to strengthen its presence in high-growth rising markets, particularly in India
and the Center East,” stated Bazin. “The mix of the 2 teams will enable us to broaden our worthwhile development platform in
development chemical substances.”
Fosroc CEO Rob Bonnici added, “The chance to affix Saint-Gobain, worldwide chief in gentle and sustainable development and a world participant in development chemical substances, is the right subsequent step to boost our provide by leveraging Saint-Gobain’s innovation and expertise in development chemical substances.”
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