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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cie de SaintGobain | EU:SGO | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1.38 | 1.85% | 76.04 | 76.04 | 76.06 | 76.22 | 74.96 | 75.40 | 556,129 | 14:45:02 |
From May 2019 to May 2024
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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