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| Saint-Gobain acquires Maxit group from HeidelbergCement Saint-Gobain finalized its acquisition of the Maxit group from HeidelbergCement, following approval from the European competition authorities (subject to the subsequent divestment of two small subsidiaries specializing in the production and sale of gypsum-based products with total revenues of around €40 million). The cost of the transaction is €2,091 million, including €577 million in debt. Maxit is a leading manufacturer of industrial mortars and reported sales of €1,338 million in 2007, up 8.2% year-on-year. It has 5,130 employees. The acquisition is part of the Group's strategy to develop its presence on construction markets, and allows Saint-Gobain to double the size of its industrial mortars business. In 2007, industrial mortars already represented €1,117 million of sales (under the Weber banner), a rise of 13.6% year-on-year, including 9.8% organic growth. The acquisition will also give Saint-Gobain a front-ranking position in new markets such as Germany and Scandinavia. The two groups have a joint presence in numerous eastern European countries and in most western European countries. Maxit has 103 plants in 30 countries, while Weber has 80 units in 27 countries. write your comments about the article :: © 2008 Construction News :: home page |