Paris (awp/afp) – The French construction materials group Saint-Gobain announced on Thursday the acquisition, for 1.03 billion dollars (around 923 million Swiss francs), of Fosroc, a specialist in chemicals for the sector construction sector present in particular in emerging markets, including India.
Saint-Gobain has “concluded a definitive agreement” for the purchase of the company, which has “around 3,000 employees” and 20 factories around the world, according to a press release.
With 35 other acquisitions since 2021, “this transaction constitutes a new strategic step in establishing Saint-Gobain’s global presence in construction chemicals”, with a total theoretical turnover for this sector of activity of “6.2 billion euros in 73 countries,” specifies the French group.
Fosroc is present “particularly in India, the Middle East and Asia-Pacific” with a turnover of $487 million expected in 2024, an operating profit of around $91 million and annual growth of 11% of sales over the period 2021-2024.
It supplies the construction industry in particular with additives for concrete and cement, adhesives and sealants.
“Fosroc is a benchmark in India, one of the most attractive countries in the world for construction chemicals, with growth driven by an ambitious infrastructure plan for the coming decades,” says Saint-Gobain.
The French group has also identified “a strong potential for synergies”, with 54 million dollars “expected by the third year” after the transaction, in particular thanks to savings on purchases, administrative costs and “logistics costs and production”.
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