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Saint-Gobain strengthens its presence in Insulation in the UK by acquiring Celotex
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Saint-Gobain has signed an agreement to acquire Celotex Group Limited, one of the leading British producers of high performance insulating foam. For more than 30 years, Celotex has offered solutions dedicated to the improvement of energy efficiency in buildings.
Celotex achieved a turnover of £69.7M (€86.7M) during the last fiscal year (to August 2011). Celotex has 170 employees and 2 production lines based in Hadleigh near Ipswich, UK, and has recently extended capacity with a new £3M (€3.7M).Distribution and Innovation Centre in order to support its growth on the construction markets.
Already present in the UK and Ireland on the insulation market with its Isover brand, Saint-Gobain enhances, with this acquisition, its insulation offer for new segments such as flat roofs and floors. It also strengthens its positions in the insulation for the new construction and renovation markets.
Celotex is continuing to operate under its brand name and with its existing management team. It will complement the Construction Products Sector interior solutions.
Completion of the acquisition is subject to approval of the Office of Fair Trading (OFT).
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June 26th, 2012
Source: www.saint-gobain.com |
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