Paris -- Saint-Gobain, which claims it is the world leader in habitat and construction markets, has signed an agreement to acquire Celotex Group Ltd, one of the leading British producers of high performance insulating foam.
Celotex has offered solutions dedicated to the improvement of energy efficiency in buildings for more than 30 years, Saint-Gobain said in an 8 June news release.
The PIR (polyisocyanurate) insulation specialist, Celotex, achieved a turnover of £69.7 million (€86.7 million) during the last fiscal year (to August 2011), according to the press release. Celotex has 170 employees and 2 production lines based in Hadleigh near Ipswich, UK, and has recently extended capacity with a new £3 million distribution and innovation Centre in order to support its growth on the construction markets.
Saint-Gobain is already present in the UK and Ireland on the insulation market with its Isover brand. The company says this acquisition enhances its insulation offer for new segments such as flat roofs and floors. It also strengthens its positions in the insulation for the new construction and renovation markets.
Celotex is continuing to operate under its brand name and with its existing management team. It will complement Saint-Gobain's construction products interior solutions business.