French firm acquires Lebanese mortar producer

Lebanon

French firm acquires Lebanese mortar producer

December 19, 2012 01:01 AM

The Daily Star

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.

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Story Summary

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.

While the value of the most recent deal has not been announced, the company said Sodamco had an annual turnover of around $120 million.

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