(CercleFinance.com) – Saint-Gobain announces that it has entered into a definitive agreement for the acquisition of Izomaks Industries, a leading player in waterproofing products (floors, roofs) in Saudi Arabia, a transaction including financial terms are not specified.
Operating two production plants in Riyadh, employing around 140 people and generating a turnover of around €60 million in 2023, Izomaks will complement Saint-Gobain’s existing offering for building envelope in Saudi Arabia.
This acquisition will help accelerate the group’s growth in the Gulf countries which are experiencing strong economic development. Its finalization is subject to satisfaction of the conditions of use and should take place by the end of 2023.
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