Saint-Gobain Acquires Pietta Glass Working
Saint-Gobain acquired the entire share capital of Romanian company Pietta Glass Working, active in glass processing and insulating glazing systems for façade markets and certain industrial applications. Pietta Glass sales should reach €20 million in 2016, with a strong potential for growth over the next few years, according to Saint-Gobain.
"The Flat Glass business is already established in Romania with a float glass plant and a coater. This acquisition will allow the Group to expand the business' industrial footprint in order to better serve the growing façade markets and round out its positioning in industrial applications with an optimized cost base," according to a company statement. "The transaction is consistent with the Group's strategy of expanding its range of downstream products towards high value-added solutions."