(RTTNews) - French construction materials maker, Saint-Gobain (CODGF.PK) Monday said it has entered into a joint-venture agreement with Turkish group Dalsan to merge their plaster and plasterboard activities in Turkey.
Closing of the transaction is subject to antitrust approvals and other customary closing conditions that are expected to be completed by the end of the year.
The JV is expected to provide innovative and complete portfolio of light and sustainable solutions for the construction and renovation of the building envelope as well as internal partitioning.
The JV will have an annual production capacity of 100 million square meters for plasterboard, 2 million tons for plaster and 50 million meters for metal profiles, following the completion of a capital expenditure project at the new plant in Turgutlu (Manisa) in 2023.
Together, Saint-Gobain Rigips and Dalsan Alçi generated revenues in excess of 100 million euros in 2021.
Saint-Gobain is currently operating 17 plants across the country and holds leadership positions in insulation, gypsum and construction chemicals. Saint-Gobain currently employs around 1,300 people in Turkey.
Saint-Gobain said the deal is in line with its "Grow & Impact" plan to strengthen its presence and accelerate its growth in the region.
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