The French construction materials group Saint-Gobain announced this Thursday the acquisition for 960 million euros (1.03 billion dollars) of Fosroc, a specialist in chemicals for the building sector present in particular on the markets emerging countries, including India.
Saint-Gobain has “ reached a definitive agreement » for the takeover of the company, which counts “ 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.
Green hydrogen: why the startup Gen-Hy is joining forces with the giant Saint-Gobain
Fosroc well established in India
Fosroc is present “ particularly in India, the Middle East and Asia-Pacific » with revenue of $487 million expected in 2024, operating profit of approximately $91 million and 11% annual sales growth over the 2021-2024 period.
It supplies the construction industry in particular with additives for concrete and cement, adhesives and sealants.
« Fosroc is a reference 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 », welcomes Saint-Gobain.
The French group has also identified ” strong potential for synergies “, with $54 million” expected by the third year » after the transaction, including savings on purchases, administrative fees and “ logistics and production costs ».
Saint-Gobain is also strengthening its presence in Australia
The company announced last February the acquisition of CSR Limited, an Australian company presented as the local champion of plasterboard, insulation – which represent three-quarters of its profitability – and facade solutions, 95% located in Australia and 5% in New Zealand.
With 30 production sites and nearly 2,500 employees, it achieved 1.63 billion euros in turnover in 2023 as well as “very good performance” financial “regular”: growth of 6.6% between 2013 and 2024 and 8.4% between 2021 and 2024, and EBIDTA rates (profit before subtraction of interest, taxes, contributions) 12.2% and 17.7% over these same periods.
(With AFP)
