PARIS, May 16, 2011 /PRNewswire-FirstCall/ -- The Saint-Gobain Group's Industrial Mortars Division has carried out four international acquisitions since the beginning of the year, together representing some EUR60 million in annual revenues.
- Acquisition of a majority interest in the capital of PT. Cipta Mortar Utama in Indonesia
The Industrial Mortars subsidiary Saint-Gobain Weber has signed an agreement for the acquisition of a 51% interest in the capital of Indonesia-based PT. Cipta Mortar Utama. The deal should be closed in June, once the administrative formalities have been completed.
PT. Cipta Mortar Utama is Indonesia's leading industrial mortars company, with a product range that includes tile adhesives and grouting, masonry mortar, wall and floor rendering and technical mortars. Through its subsidiary, PT. Prima Rezeki Pertiwi, it also manufactures and sells lightweight blocks which in Indonesia represent a downstream activity from industrial mortars.
In 2010, the company reported consolidated revenues of IDR 330 billion (approximately EUR28 million), with some 210 employees.
The acquisition gives the Construction Products Sector, through its Industrial Mortars Division, a solid foothold in a country with a fast-growing economy and a very promising future.
- Acquisition of Anchortec in Brazil
In Brazil, in early April Saint-Gobain Weber acquired the entire capital of Anchortec, a company that enjoys strong synergies with Weber Quartzolit, which is the leading industrial mortars company with 19 plants and over 1,300 employees spread throughout the country.
Anchortec is a major player in the market for additives used by the construction industry and one of the leading companies in the floor coating market, with average revenue growth of 15% per year. The company has 140 employees and operates a plant in Mogi das Cruzes, in the Sao Paulo region. Up to now, Anchortec sold its products mainly to installers in the Brazil's southern states. It will now have access to Weber's entire national distribution network, allowing the Industrial Mortars Division to consolidate its position in the Brazilian market. Anchortec's 2010 revenues amounted to EUR20 million.
Two other companies have also been acquired this year, Promix in Turkey and Edicace in Italy, contributing additional revenues of some EUR10 million.
With these four transactions, the Saint-Gobain Group - through the Industrial Mortars Division - is continuing to expand in emerging markets and consolidating its presence in Europe.
Analyst/Investor Relations Florence Triou-Teixera +33-1-47-62-45-19 Etienne Humbert +33-1-47-62-30-49 Vivien Dardel +33-1-47-62-44-29 Press Contact Sophie Chevallon +33-1-47-62-30-48