COURBEVOIE (dpa-AFX) - French building materials company Compagnie de Saint-Gobain SA (CODGF.PK, COD.L) Monday announced that it has just finalized the acquisition of Turkey-based Atlas Zimpara, a long-standing partner of Saint-Gobain Abrasives.
Istanbul-based Atlas Zimpara has a coated abrasives processing plant in Gebze, an industrial area close to Istanbul. The company offers a broad spectrum of products for the industrial supplies, automotive repair and building markets in Turkey.
Saint-Gobain noted that this investment strengthens its presence in Turkey. The company recently began operating a new organic grinding wheel plant at Eskisehir, 300km south-east of Istanbul. This plant serves the Turkish market as well as the Middle East and Central Asia.
According to the firm, this development in Turkey enables the Abrasives business to effectively serve customers from a local industrial base and marks an important stage in the Group's development in fast-growing countries.
In Paris, Saint-Gobain shares were trading at 33.44 euros, up 0.03 euro or 0.10 percent.
Copyright RTT News/dpa-AFX