Construction Materials Saint–Gobain Expands Pipe Business to India
French construction materials supplier Saint–Gobain will acquire the ductile iron pipe division of Indian Electrotherm company, thereby gaining a first foothold on the Indian market for construction materials.
Paris/France – Saint-Gobain Construction Products Sector will buy equity stakes of an Indian subsidiary of Electrotherm (India) for about 9.5 billion Indian Rupees (roughly € 135 million) the company said. The finalization of this acquisition is yet subject to antitrust clearance in India. With sales of INR 5492 million (around € 80 million) in 2010, Electrotherm's Pipe division produces at two sites in Gujarat and Karnataka, India.