Compagnie de Saint-Gobain Acquisition (6864Q)
February 22 2023 - 2:05AM
UK Regulatory
TIDMCOD
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 operates
33 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, manufactures
and 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
decarbonization
of 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".
EUR44.2 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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