BEIRUT: French industrial mortar producer Saint-Gobain Weber said Tuesday it had finalized acquisition of Lebanese-owned Sodamco Holding, buying out remaining shares in the company. Established in Lebanon in 1985, Sodamco is a regional leader in the field of concrete admixtures. In 2009, a majority share was bought by Saint-Gobain in an undisclosed deal. While the value of the most recent deal has not been announced, the company said Sodamco had an annual turnover of around $120 million. “With the full integration of Sodamco by Saint-Gobain Weber, Saint-Gobain Construction Products has a strong foothold in the Middle East region which continues to experience a very dynamic growth,” said a statement.
A version of this article appeared in the print edition of The Daily Star on December 19, 2012, on page 5.