Compagnie St-Gobain reinforces mortars business with Megaflex acquisition
French multinational Compagnie de Sain-Gobain (COD) announced on Wednesday that it had acquired Argentinean construction supply firm Megaflex through Weber, its mortars business.
Details of the acquisition had not been released at the time of publication.
Megaflex, one of Argentina's largest waterproofing applications companies, primarily make asphalt membranes, waterproof pains and waterproofing systems for construction and reported total sales of ARS 568m in 2016.
COD said, "This acquisition is in line with the group's strategy of expanding its presence in emerging countries and complements the Mortars business portfolio in Argentina, where Weber is already the market leader."
As of 1500 BST, St-Gobain shares had dipped just 0.57% to €49.45 each.