India: Business Deal Saint-Gobain to Acquire Stone Wool Manufacturing Firm Rockwool India
Saint-Gobain has plans to take over Rockwool India from the Alghanim group. The soon to be acquired firm offers numerous insulation products for thermal, acoustic and fire safety applications as well as has two manufacturing facilities in India with a total capacity of around 50,000 tons. With this move, the company plans to enter into the country’s stone wool insulation market.
La Défense Cedex/France – Saint-Gobain has entered into a definitive agreement with Alghanim group for the acquisition of its 100 % subsidiary, Rockwool India, a major manufacturer of stone wool in India with a wide range of insulation products for thermal, acoustic and fire safety applications. Rockwool India is a licensee of Saint-Gobain technology for the manufacture of stone wool in India. Rockwool India has two manufacturing facilities in India, one in Hyderabad and another in Silvassa, with a total capacity of around 50,000 tons. It has a strong marketing network across the country. This acquisition is fully in line with Saint-Gobain’s ‘Grow & Impact’ plan and will strengthen the Group’s presence and accelerate its growth in Asia, in particular in India.
Saint-Gobain India is a leader in promoting green buildings in the country with its solutions for light and sustainable construction and thanks to its market and customer led innovation. The Group currently operates 29 plants across India and has been investing for growth in the country in recent years, as well as developing solutions that combine sustainability and performance. Entering into insulation in India, the Group will reinforce its presence in the country, adding to its leading positions in glass, gypsum and construction chemicals. This transaction is subject to the completion of conditions set out in the agreement and approvals from the competent authorities. It is expected to be completed in first quarter of 2022.