Saint-Gobain Takes Stake in Kimmco, to Be Managed With Alghanim Industries
11 Janvier 2018 - 7:40PM
Dow Jones News
By Marc Bisbal Arias
Saint-Gobain SA (SGO.FR) said Thursday that it has acquired a
stake in Kuwait Insulating Material Manufacturing, or Kimmco, a
regional leader in the sector.
Kimmco is a subsidiary of Alghanim Industries, which will
continue to be a partner.
Kimmco will be managed jointly by both companies and will be
consolidated in Saint-Gobain's accounts, the French company
said.
Financial terms of the deal were not disclosed.
The acquisition is in line with Saint-Gobain's strategy of
expending in new geographies, it said.
Kimmco reported total sales of around 70 million euros ($84.3
million) in 2016, Saint-Gobain said.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
January 11, 2018 13:25 ET (18:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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