October 1 (SeeNews) - French building materials group Saint-Gobain completed the acquisition of Romanian group Duraziv specialised in the production of adhesives and other construction chemicals solutions, deal advisor Deloitte said on Friday.
The deal was concluded on September 30, after receiving approval from the anti-trust authority, Deloitte said in a press release.
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"In recent years we had several failed attempts to sell the company. (...) I am satisfied that the factory I created ended up under the management of a world leader, who can make it an important player on the European market, and that the people I worked with have the possibility to reach new professional milestones," Duraziv Group founder Daniel Guzu, said.
The value of the transaction was not disclosed.
Saint-Gobain announced that it signed an agreement to buy Duraziv in May, adding that the acquisition will allow it to expand its range of interior and exterior finishing solutions.
Established in 2003 as Bau Profil, Duraziv operates three production facilities in Popesti Leordeni, in southern Romania.
Saint-Gobain Group operates in 70 countries worldwide and has over 167,000 employees.
In Romania, Saint-Gobain employs over 1,800 and offers a complete range of solutions and systems, with its 22 production lines manufacturing gypsum, mineral wool, mortars, building and automotive glass, and abrasives in 12 industrial sites.
In April, Saint Gobain announced that it will invest 45 million euro ($52 million) in a new plasterboard manufacturing line at its factory in Turda, in northern Romania. The new production line is planned to become operational in April 2023.
($=0.8636 euro)