Saint-Gobain To Acquire Saudi-based Firm Izomaks Industries

Construction Chemicals Saint-Gobain To Acquire Saudi-based Firm Izomaks Industries

2023-11-14 Source: Press release Saint-Gobain 1 min Reading Time

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With an aim to further strengthen its presence in the construction chemicals market in Saudi Arabia, Saint Gobain has plans to takeover Izomaks Industries, a local company known for manufacturing waterproofing products in the country.

Saint-Gobain has entered into a definitive agreement to acquire Izomaks Industries, a leading manufacturer of waterproofing products in Saudi Arabia. (Source: Pixabay) — Saint-Gobain has entered into a definitive agreement to acquire Izomaks Industries, a leading manufacturer of waterproofing products in Saudi Arabia.
(Source: Pixabay)

Courbevoie/France – Saint-Gobain has entered into a definitive agreement to acquire Izomaks Industries (Kingdom of Saudi Arabia), a leading manufacturer of waterproofing products (floors, roofs) in Saudi Arabia. Izomaks operates two manufacturing facilities in Riyadh, employs around 140 people and will generate revenues of approximately 60 million euros in 2023. This acquisition perfectly complements the firm’s existing building envelop offering in Saudi Arabia where Saint-Gobain has been present since 2007, currently operating 3 manufacturing plants in insulation and mortars (tile fixing, façade renders, flooring and technical mortars) and employing around 320 people.

By enhancing the range of solutions offered, this acquisition will accelerate the growth of Saint Gobain in the Gulf countries, characterized by fast economic development and major construction projects in the coming years (Vision 2030 in Saudi Arabia, Vision 2050 in the United Arab Emirates, Vision 2040 in Oman). Closing of the transaction is subject to customary conditions and expected by the end of 2023. The acquisition of Izomaks Industries in the Kingdom of Saudi Arabia is in line with Saint Gobain’s strategic plan, “Grow & Impact”, which aims to both strengthen the Group’s leadership and accelerate its presence by enriching its range of solutions for light and sustainable construction.

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