Saint-Gobain in acquisition talks in Spain
French construction and glass materials manufacturer Saint-Gobain expects to grow by 7% in Spain and is in acquisition talks, Expansion reported. The Spanish-language paper cited Gianni Scotti, head of Saint Gobain’s newly set up Mediterranean division, which also includes Italy, Greece, Portugal, Morocco, Algeria, Tunisia and Libya.
At the end of 2015 Saint-Gobain acquired Glassdrive and this year it has bought eight Thisa plumbing distribution warehouses in Madrid. The company is in talks to acquire an unidentified company located in Catalonia within the next few months, Scotti said.
Saint-Gobain’s Mediterranean division expects a turnover of EUR 1.9bn in 2016, up 5.6% on the previous year, of which 63% will come from Spain and Portugal, Scotti told Expansion. In Spain, Saint-Gobain reported sales of about EUR 1bn in 2015.
Expansion