In a recent development, Saint-Gobain has successfully reached an agreement with SOPREMA for the sale of a majority stake in its polyisocyanurate insulation (PIR) activity in the United Kingdom. This deal specifically involves the renowned Celotex brand.
Saint-Gobain's latest transaction allows the company to further enhance its portfolio and concentrate its efforts on better serving its customers. SOPREMA, a leading manufacturer of PIR insulation in Europe, is set to provide strong support for the growth of the Celotex business.
Celotex, a leading manufacturer, currently operates two manufacturing facilities in Hadleigh, Suffolk, and Eggborough, Yorkshire. With a workforce of 155 employees, the company continues to thrive in the industry.
The transaction is set to be finalised in early 2024.
Celotex, a leading insulation manufacturer, has announced that its assets will be transferred to a new standalone company. SOPREMA, a leader in waterproofing and insulation solutions, will own the majority of this new company. The transfer of assets is expected to be completed soon, with SOPREMA owning 75% of the new company. This strategic move aims to enhance the capabilities and offerings of both Celotex and SOPREMA in the insulation industry. In a move to ensure a seamless transition, Saint-Gobain has announced that it will maintain a 25% minority stake in the newly formed company.
Saint-Gobain Executes Transaction as Part of Business Profile Optimisation Strategy Saint-Gobain, a leading global company, has successfully completed a transaction as part of its ongoing business profile optimisation strategy. This move aligns with the company's strategic plan, "Grow & Impact," which aims to enhance its overall performance and market presence.
Source: SOPREMA Group
Comments