Saint-Gobain Creates a Joint Venture in Tanzania

Jul 20, 2015, 14:01 ET from Saint-Gobain

PARIS, July 20, 2015 /PRNewswire/ --

Saint-Gobain has finalized an agreement creating a joint-venture in which it owns 50% of the capital of Lodhia Gypsum Industries based in Arusha, Tanzania, situated on the border with Kenya.

Lodhia Gypsum Industries manufactures and sells plasterboard in Tanzania, Kenya and neighboring countries. The company has 90 employees and a plant in Arusha. It allows Saint-Gobain to affirm its leadership in the plasterboard market in East Africa.

This transaction is fully in line with Saint-Gobain's strategy of developing its presence in Sub-Saharan Africa where the Group is already present in South Africa.

ABOUT SAINT-GOBAIN  

In 2015, Saint-Gobain is celebrating its 350th anniversary, 350 reasons to believe in the future. Backed by its experience and its capacity to continuously innovate, Saint-Gobain, the world leader in the habitat and construction market, designs, manufactures and distributes high-performance and building materials providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2014 sales of €41 billion, Saint-Gobain operates in 64 countries and has over 180,000 employees. For more information about Saint-Gobain, visit http://www.saint-gobain.com and the twitter account @saintgobain or download the "Saint-Gobain Shareholder" application for tablet and smartphone.

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SOURCE Saint-Gobain