The 2020 Mid-Year Economic Update_long

Saint-Gobain Acquires Maxit from HeidelbergCement

Saint-Gobain has acquired the Maxit group, a manufacturer of industrial mortars, from HeidelbergCement. Maxit reported sales of & euro; 1,237 million in 2006 (US$1.7 billion).&nbsp ;

With this transaction, Saint-Gobain builds its presence in Construction Markets, doubling its size in industrial mortars (which, in 2006, represented & euro; 1 billion (US$1.37B) in products sold under the Weber trademark) and in particular strengthens its ETICS (External Thermal Insulation Composite System) solutions.

The companies complement each other geographically -Weber is strong in and Southern Europe, and well established in

Eastern Europe . Maxit group is a player in and in

Scandinavia . In addition, the two groups ...

Saint-Gobain has acquired the Maxit group, a manufacturer of industrial mortars, from HeidelbergCement. Maxit reported sales of & euro; 1,237 million in 2006 (US$1.7 billion).&nbsp ;

With this transaction, Saint-Gobain builds its presence in Construction Markets, doubling its size in industrial mortars (which, in 2006, represented & euro; 1 billion (US$1.37B) in products sold under the Weber trademark) and in particular strengthens its ETICS (External Thermal Insulation Composite System) solutions.

The companies complement each other geographically -Weber is strong in and Southern Europe, and well established inEastern Europe . Maxit group is a player in and inScandinavia . In addition, the two groups have a joint presence in many emerging countries and in most western European countries. Maxit has 103 industrial units in 30 countries and Weber has 80 industrial units in 27 countries.

The transaction has an enterprise value of & euro; 2,125 million (US$2,921 million), about 11 times Maxit’s estimated operating income for 2007 after cost synergies.

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