Saint-Gobain (CODYY), a French multinational corporation, Monday announced that it has finalized the acquisition of FOSROC - a British manufacturer of specialized construction chemicals, following the announcement on June 27, 2024. This acquisition strengthens Saint-Gobain's presence, particularly in India, the Middle East, and the Asia-Pacific region.
Building on the acquisitions of Chryso, GCP, and OVNIVER, this marks another key milestone in strengthening Saint-Gobain's global footprint in construction chemicals. With this addition, the segment's pro forma sales will reach €6.5 billion across 76 countries.
FOSROC is projected to have generated $487 million in revenue in 2024, maintaining an average annual growth rate of 11% since 2021. With 20 manufacturing facilities and approximately 3,000 employees, FOSROC offers a comprehensive range of technical solutions for the construction industry, including concrete and cement admixtures, adhesives, sealants, waterproofing, concrete repair, and flooring solutions.
Acquiring FOSROC reinforces Saint-Gobain's position in fast-growing emerging markets, particularly in India and the Middle East. It aligns seamlessly with the Group's strategy to lead globally in light and sustainable construction.
FOSROC will be integrated into Saint-Gobain's High Performance Solutions segment.
CODYY is currently trading at $19.35 or 0.31% higher on the OTC Markets OTCPK.
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