Saint-Gobain To Buy German Reinforcement Products Specialist Kirson

French building and abrasive materials company Saint-Gobain (CODGF.PK) Monday said it has signed a share purchase agreement to buy Kirson, a major actor on the European laid scrim market. The company didn't reveal the financial details of the deal.

This project is subject to the approval of the German antitrust authorities.

This acquisition is fully aligned with Saint-Gobain's strategy to consolidate its positioning on high performance solutions in the housing and construction sector.

Bavaria, Germany-based Kirson makes reinforcement scrim and combination products of scrim and nonwoven fabrics. These solutions primarily serve the waterproofing roofing markets as well as floor coverings and construction panels. In 2016, Kirson's revenues reached 27 million euros.

Saint-Gobain said the integration of Kirson into its High-Performance Materials Activity will complete Adfors' offer for the waterproofing membrane market and help develop the sales of its products worldwide.

About Saint-Gobain

Saint-Gobain designs, manufactures and distributes materials and solutions which are key ingredients in the wellbeing of each of us and the future of all. They can be found everywhere in our living places and our daily life: in buildings, transportation, infrastructure and in many industrial applications. They provide comfort, performance and safety while addressing the challenges of sustainable construction, resource efficiency and climate change.