Control over Tambov "Izorok" passes to French Saint-Gobain

Saint-Gobain group has completed a transaction aimed to acquire CJSC Izorok, a Tambov based company.

Control over Tambov "Izorok" passes to French Saint-Gobain

Saint-Gobain group has completed a transaction aimed to acquire CJSC Izorok, a Tambov based company.

In 2012, the company acquired a 25.1% stake in Izorok and in January this year the stake was increased to 74.9%, while in May Saint-Gobain became the sole owner of the plant after redeeming all remaining shares. The price of the transactions has not been disclosed.

“Integration in Saint-Gobain Group will afford Izorok opportunities to enter into new markets and expand its product range. The acquisition of the plant will enable Saint-Gobain to expand the scales of its production and strengthen its leading positions in the heat-insulating materials markets of Russia and CIS countries", the company explained.

Izorok is based in Tambov and specializes in the manufacturing of rock wool heat-insulating materials. The facility's capacity exceeds 100 ktpa.

Saint-Gobain is an international industrial group with its headquarters being located in Paris. It is a manufacturer of plain glass, hi-tech materials and integrated construction solutions. The company is known in the construction markets thanks to its heat and sound-insulating materials made of fiber-glass-based rock wool. In 2015, the company's turnover totaled EUR 39.6 billion. The group has representative offices in 66 countries of the world.