Saint-Gobain’s Construction Products Sector gives impetus to its expansion in Turkey

Date: 7 September 2006
Source: Saint Gobain release
Saint-Gobain’s Construction Products Sector is consolidating its position in Turkey through the acquisition of Izocam, the leading Turkish name in insulation.

The purchase of a majority of the shares of Izocam, from Koç Group companies is being made jointly with Alghanim Industries, a leading industrial group in Kuwait and in the Gulf countries, whose subsidiary Kimmco has been a glass and stone wool Isover licensee for 25 years.A 50/50 joint venture company will be established with the Alghanim Group.The joint venture will initially acquire 61.2% of Izocam’s shares currently held by Koç, and then launch a tender offer on the Istanbul stock exchange for the remaining shares as required under Turkish law.

Izocam has been a licensee of Isover for more than 40 years. As a market leader in insulation in Turkey and the Middle East, Izocam reached sales of approximately 120 million euros in 2005 with a workforce of more than 450 people.

Izocam is the only manufacturer in Turkey operating in all insulation market segments. Izocam produces glass wool, stone wool, but also extruded polystyrene (XPS) and expanded polystyrene (EPS) foams, elastomers and sandwich panels. Izocam has 4 plants, in Tarsus (glass wool), Gebze (stone wool, XPS and EPS foams), Eskisehir (elastomer foams) and Umraniye (sandwich panels).

Through this acquisition, Saint Gobain's Construction Products Sector takes a prominent position in Turkey's very dynamic and fast-growing construction market. Already present in Turkey through Weber Markem (Industrial Mortars) and BPB (Gypsum), Saint-Gobain’s Construction Products Sector plans to give impetus to its growth in Turkey and in neighbouring countries with this operation

This operation is subject to the approval of the Turkish Competition Authority.

With 45,000 employees spread out around the world and 250 consolidated companies, Saint-Gobain’s Construction Products Sector is a leader in all of its activities: insulation (ISOVER), gypsum (BPB), exterior products (CertainTeed), industrial mortars (Weber) and pipe (PAM). In 2005, annual sales (proforma BPB) totaled 10 billion euros representing 26% of Saint-Gobain’s total sales.

600450 Saint-Gobain’s Construction Products Sector gives impetus to its expansion in Turkey
Date: 7 September 2006
Source: Saint Gobain release

See more news about:

See more from these topics:

Others also read

Sophisticated, subtle, yet stylish, it is the perfect foil for SGG Planisafe for offices – sturdy and safe.
ESuva Glazing expert has developed a new product for the creation of glass canopies.
Now is the time for revolutionary glass for evolving workspaces, with Saint-Gobain Inspire’s Planilaque Evolution.
China Ginza Tokyo is a luxurious and unique building expressing the spirit of Chanel through a façade generating images and acting as lighting for the building.
Vetrotech Saint-Gobain North America has an abundance of products and knowledge to share with those in attendance.
The Rail Nirman Nilayam at Hyderabad, constructed by the South Central Railways, is the first project of the Indian Railways that has been registered for GRIHA compliance.

Add new comment