Displaying items by tag: diversification

UAE: France-based Saint-Gobain has entered a definitive agreement to acquire construction chemicals producer Fosroc for US$1.03bn. Fosroc produces concrete admixtures, sealants and waterproofing products. It operates 20 plants and employs 3000 people, with a strong presence in Asia-Pacific and the Middle East. Completion of the deal is expected by 30 June 2025.

Saint-Gobain chair and CEO Benoit Bazin said "The acquisition of Fosroc is perfectly aligned with our Grow & Impact strategic plan: it is a unique opportunity for Saint-Gobain to further reinforce its worldwide presence in construction chemicals, and to strengthen its presence in high-growth emerging markets, in particular in India and the Middle East. I am very impressed with Fosroc's leadership, its strategy and its impressive development, as well as the team's track record of excellent execution and profitable growth. The combination of the two groups will allow us to expand our profitable growth platform in construction chemicals. I am looking forward to warmly welcoming the Fosroc teams into the group and I am very confident about the combination of our joint forces."

Fosroc CEO Rob Bonnici said "The opportunity to join Saint-Gobain, worldwide leader in light and sustainable construction and a global player in construction chemicals is the perfect next step to enhance our offer by leveraging Saint-Gobain's innovation and technology in construction chemicals. I look forward to continuing our growth journey within Saint-Gobain."

UK: Holcim subsidiary Aggregate Industries has acquired mortars producer Eco-Readymix. Aggregate Industries that the acquisition will reinforce its position in the north west of England, and help to establish its place in the mortars market.

Aggregate Industries CEO Dragan Maksimovic said “This also marks our entry into the UK mortars market with a knowledgeable and ambitious management that has multiple synergies with our own. The acquisition supports our long-term strategy to continue to grow our business in order to become the UK’s leading supplier of sustainable construction materials and solutions.”