Dec 23, 2015, 12:13 ET
PARIS, December 23, 2015 /PRNewswire/ --
Saint-Gobain today announced the signing of an agreement to set up a joint-venture between Moongypse, a company established in 2012 between Saint-Gobain and the local player Planchister, and Lafarge Plâtre Maroc, historically present in the country.
The new joint venture will benefit, on the one hand, from Lafarge Plâtre Maroc's strong commercial presence and manufacturing capacity and, on the other, from the diversity of Saint-Gobain's gypsum-based range of innovative products and solutions.
This transaction is in line with the Group's strategy to increase the share of its industrial assets outside of Western Europe and to expand on the African market.
The agreement is subject to the approval of the competent authorities in the Kingdom of Morocco.
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 €38.3 billion*, Saint-Gobain operates in 66 countries and has more than 170,000 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.
* restated excluding Verallia
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