By Nathan Allen 
 

Compagnie de Saint-Gobain SA (SGO.FR) said Wednesday that it has bought German thermal-insulation and fire-protection specialist HKO.

HKO posted sales of 39 million euros ($45.7 million) in 2017 and employs 225 people across its two plants in Germany and sales operations in France, the U.S. and China.

It manufactures glass-fiber insulating products that can withstand temperatures of up to 1,000 degrees Celsius, according to Saint-Gobain.

"This acquisition is in line with the Group's strategy of developing technological niches," Saint-Gobain said.

Neither company disclosed a sale price.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

August 01, 2018 02:33 ET (06:33 GMT)

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