The acquisitions concern companies involved in the industrial mortars, insulation and gypsum businesses, and represent total sales of more than EUR230 million.
In South Africa, Saint-Gobain has acquired TAC and Tylon, the country's leading manufacturer of industrial mortars for tile adhesives, and has also entered into an agreement with a view to acquiring Owens-Corning South Africa, South Africa's top-ranking insulation business. This acquisition is subject to the approval of the South African competition authorities.
Tylon is South Africa's no.1 manufacturer of cement-based tile adhesives and grouts. It has sales of around EUR20 million and employs close to 70 people. Tylon has two plants, in Johannesburg and Cape Town. Renowned for the quality of its products and services, Tylon boasts an extensive network of distributors across the country.
TAC offers an ideal complement to Tylon's geographical market and has an adhesives plant 200 km to the east of Johannesburg (Middleburg). TAC was created in 2005, fields a workforce of nearly 30 employees, and generates around EUR5 million in sales.
Read the entire news on the source link below.