Saint-Gobain Acquires a Majority Stake in Isoroc
Compagnie de Saint-Gobain S.A. (SGO.FR) said Friday that it acquired 90% of the shares of Isoroc Polska SA and its corresponding brand Isoroc in Europe, allowing it to consolidate its position and expand in fast-growing markets.
Terms of the deal were not disclosed.
Isoroc Polska operates a stonewool plant with a capacity of 35,000 tons in Warsaw, Poland, the company said. A new line of 40,000 tons is planned to open in 2019, which will serve Germany and the Nordics, as well as Poland and its neighboring countries, it said.
The French manufacturing company said that the acquired company joins its insulation unit and that it is fully-aligned with Saint-Gobain's strategy.
The Isoroc business and brand in Russia has been owned by Saint-Gobain since 2016, it said.
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(END) Dow Jones Newswires
November 24, 2017 12:59 ET (17:59 GMT)