Saint-Gobain to Acquire Majority Stake in IMPTEK

Saint-Gobain has announced that it has signed an agreement to acquire a majority stake in IMPTEK Chova del Ecuador, a leading company in the building chemicals market in Ecuador offering innovative waterproofing solutions. This will be Saint-Gobain's first production investment in the country. IMPTEK, which is estimated to have generated approximately EUR 30 million in revenue in 2023, operates a facility in the Quito region and employs around 120 people. The company stands out in Ecuador's construction market with a range of waterproofing solutions that it sells locally and also exports to numerous countries in Latin and Central America. Through this acquisition, Saint-Gobain aims to leverage IMPTEK's position to introduce its portfolio of lightweight and sustainable construction solutions to Ecuador. The acquisition of IMPTEK in Ecuador is aligned with Saint-Gobain's strategic plan "Grow & Impact," which aims to strengthen the company's leadership and accelerate growth by enriching its range of solutions for lightweight and sustainable construction. Completion of the acquisition is subject to approval by competition authorities and is expected to take place in the first half of 2024. Source