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Compagnie de Saint-Gobain SA - Courbevoie, France-based materials and services provider for the industrial sector - Inks deal to buy Fosroc International Ltd, a global construction chemicals company, for $1.03 billion in cash. Says this move is a new strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of €6.2 billion across 73 countries following the acquisition. Fosroc is expected to generate $487 million of sales and to achieve an earnings before interest, tax, depreciation and amortisation margin of nearly 19% in 2024.
Chief Executive Officer Benoit Bazin says: ‘I am very impressed with Fosroc’s leadership, its strategy and its impressive development, as well as the team’s track record of excellent execution and profitable growth. The combination of the two groups will allow us to expand our profitable growth platform in construction chemicals. I am looking forward to warmly welcoming the Fosroc teams into the group and I am very confident about the combination of our joint forces.’
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