Saint Gobain is to acquire insulating materials manufacturer DBW in Ploiesti (60 km. north of Bucharest) for several million euros, daily Ziarul Financiar reported on 11 May 2005.
According to the re…
Saint Gobain is to acquire insulating materials manufacturer DBW in Ploiesti (60 km. north of Bucharest) for several million euros, daily Ziarul Financiar reported on 11 May 2005. According to the report, Saint Gobain Isover Austria AG will buy Ploiesti-based company in its entirety from the current owners, German group DBW GmbH & Co KG, and is to invest EUR 40 million in the expansion of a production facility. “The EUR 40 million investment entails the transaction with the DBW Ploiesti and a project for the creation of a facility for the production of glass fiber,” said a representative of the French building materials giant. The investment project in Ploiesti is to start early in 2006 and production is destined for both the domestic market and export. DBW Ploiesti posted a net profit for 2004 of EUR 126,000 on turnover of EUR 5.8 million . Saint Gobain is already present in the Romanian construction materials market through companies in Tulcea, Satu Mare, Bucharest, Arad and Turda.