CODYY - Saint-Gobain partners with Alghanim Group to buy Rockwool India

Saint-Gobain (OTCPK:CODGF) entered an agreement with Alghanim group to acquire its 100% subsidiary, Rockwool India Pvt Ltd. Rockwool is a licensee of Saint-Gobain technology to manufacture of stone wool in India. The commercial terms were not disclosed. Rockwool is a major manufacturer of stone wool in India with a wide range of insulation products for thermal, acoustic, and fire safety applications. The acquisition is in line with Saint-Gobain’s “Grow & Impact” plan and will strengthen the Group’s presence and accelerate its growth in Asia, particularly India. The transaction is subject to the completion of conditions set out in the agreement and approvals from the competent authorities. The deal is expected to be completed in first quarter of 2022.

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Saint-Gobain partners with Alghanim Group to buy Rockwool India