May 17 (SeeNews) - French building materials group Saint-Gobain said on Monday it has signed an agreement for the acquisition of Romanian group Duraziv, specialised in the production of adhesives and other construction chemicals solutions.
The acquisition will allow Saint-Gobain to expand its range of interior and exterior finishing solutions, the French company said in a press release.
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At the same time, the deal will accelerate the company's market penetration and help it drive improvement in the energy efficiency of buildings in Romania thanks to high value-added external thermal insulation solutions based on locally produced stone wool and mortars, it added.
The signing of the agreement for Duraziv follows the recent acquisition of Scientific and Production Company Adhesive LLC in Russia.
"These acquisitions, which represent around 40 million euro [$48.3 million] in sales, are subject to the approval of the competent competition authorities," Saint-Gobain said.
Established in 2003 as Bau Profil, Duraziv operates three production facilities in Popesti Leordeni, in southern Romania.
Saint-Gobain Group operates in 70 countries and has over 167,000 employees.
In Romania, Saint-Gobain employs over 1,800 and offers a complete range of solutions and systems, with its 22 production lines manufacturing gypsum, mineral wool, mortars, building and automotive glass, and abrasives in 12 industrial sites.
In April, Saint Gobain announced that it will invest 45 million euro in a new plasterboard manufacturing line at its factory in Turda, in northern Romania. The new production line is planned to become operational in April 2023.
($=0.826 euro)