MOSCOW (MRC) -- Saint-Gobain, through its Chryso business, has completed the acquisition of Matchem in Brazil and entered into exclusive negotiations to acquire IDP Chemicals in Egypt, said the company.
The acquisitions of Matchem and IDP Chemicals will allow Saint-Gobain to strengthen its position in construction chemicals, in particular concrete admixtures which play a key role in the decarbonization of the construction industry.
These two companies are focused on the buoyant building and infrastructure markets in Brazil and Egypt, which should see strong growth for the years to come. Matchem, established in 2011, employs around 50 people across two plants in Brazil and generated revenues of close to EUR 20 M in 2022.
Together with Quartzolit, manufacturer of mortars (tile fixings, wall and floor coatings, waterproofing membranes), TekBond, sealant and adhesive specialist, and the recently acquired GCP Applied Technologies, Matchem will reinforce Saint-Gobain's platform in construction chemicals, a leader on the Brazilian market with 24 industrial sites. IDP Chemicals, licensed by Chryso since 2018, employs 25 people at one plant and is well positioned to serve the dynamic construction market in Egypt. This acquisition should be finalized in 1Q 2023.
We remind, Saint-Gobain has now obtained approvals from all relevant competition authorities for its acquisition of GCP Applied Technologies Inc., a major global player in construction chemicals, announced on December 6, 2021, said the company. The acquisition will close on September 27, 2022. GCP will delist from the New York Stock Exchange.