Saint-Gobain and the El Volcan group, long-standing partners in Chile (in fiber cement, mortars, insulation and plasterboard), in Colombia (in insulation and waterproofing), and in Brazil (in plasterboard), have signed an agreement covering their activities in Peru (mortars and plasterboards) and Argentina (plaster and plasterboards) which represent around 60 million euros in turnover, 6 factories and 450 employees.
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In Peru, Saint-Gobain to acquire El Volcan Soluciones Constructivas (around 20 million euros in turnover) specializing in the production and sale of plasterboard.
After merger of this new entity with the company SG Productos para la Construccion, specializing in the production and sale of mortars and 100% owned by Saint-Gobain since December 2019, Saint-Gobain will retain 55% of the new consolidated entity and will sell 45% to the El Volcan Group.
In Argentina, El Volcan will buy from Saint-Gobain 45% of the whole, including Tuyango, the historical plaster activity, et Aswell, the plasterboard business acquired in the first quarter of 2019, Saint-Gobain becoming a 55% shareholder in this gypsum complex in Argentina.
This operation is not subject to conditions and should be definitively finalized in January 2021.
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