French industrial mortar producer Saint-Gobain Weber said 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.
The Daily Star