(CercleFinance.com) – Saint-Gobain announces the conclusion of an agreement with Alghanim group with a view to the acquisition of its wholly-owned subsidiary, Rockwool India, specialist in the production of stone wool in India.
Rockwool India operates Saint-Gobain technology, under license, for the manufacture of stone wool in India and has two production plants in the country, in Hyderabad and Silvassa, with a total production capacity of 50,000 tonnes, and a extensive sales network across the country.
Saint-Gobain specifies that this acquisition is fully in line with its ‘Grow & Impact’ strategic plan. By entering the insulation market in India in this way, Saint-Gobain will strengthen its leading positions in the country in glass, plaster and construction chemicals, the company assures us.
The transaction is expected to close in the first quarter of 2022, specifies Saint-Gobain.