Saint-Gobain, the France-based producer, processor and distributor of construction and high-performance materials and packaging, has taken over Romanian company Pietta Glass for an undisclosed sum.
“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. The transaction is consistent with the Group’s strategy of expanding its range of downstream products towards high value-added solutions,” said the company in a statement.
Pietta Glass is set to register sales of around EUR 20 million this year and the company has potential to further improve its turnover in the next years. The company had 453 employees in 2015.
Pietta Glass Working was created in 2000, in Prahova county, as a continuation of the business of Italian family Pietta that has been working in the glass industry in the past 40 years.
Law firm Popovici Nitu Stoica & Asociatii and UniCredit Bank assisted Pietta Glass on the sale, while Zamfirescu Racoti & Partners worked for Saint-Gobain.
Saint-Gobain has 10 production units in Romania, within seven industrial sites. The company has 800 employees in the country.
Globally, Saint-Gobain recorded sales of EUR 39.6 billion last year and employed more than 170,000 people.