Saint-Gobain Buys British Insulation-Solutions Company

   By Cristina Roca

Compagnie de Saint-Gobain SA (SGO.FR) said Tuesday that it has bought acoustic-and-thermal insulation solutions provider Pritex Ltd.

The French manufacturer said the acquisition will allow the mobility unit of its high-performance solutions division to expand beyond glazing for autos and into solutions for comfort, safety and energy saving in mobility.

"With the development of electric vehicles, the need for differentiated noise control and lightweight solutions is gaining momentum," Saint-Gobain said.

U.K.-based Pritex provides insulation solutions made from polymer-based composite materials meant for the mobility market, and had sales of close to 20 million euros ($22.4 million) in 2018, Saint-Gobain said. Further financial details weren't disclosed.

Write to Cristina Roca at cristina.roca@dowjones.com; @_cristinaroca

(END) Dow Jones Newswires

May 28, 2019 12:34 ET (16:34 GMT)

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