Brazil/Egypt: France-based Saint-Gobain has acquired Matchem in Brazil and started exclusive negotiations to acquire IDP Chemicals in Egypt via its Chryso subsidiary. Both transactions are intended to strengthen the company’s presence in the construction chemicals market with a focus on concrete admixtures. Matchem and IDP Chemicals will be consolidated within the Construction Chemicals segment in Saint-Gobain’s High Performance Solutions division.
Matchem, established in 2011, employs around 50 people across two plants in Brazil and reported revenue of around Euro20m in 2022. Saint-Gobain also operates mortar company Quartzolit, sealant and adhesive company TekBond and GCP Applied Technologies in Brazil.
IDP Chemicals has been licensed by Chryso since 2018 and employs 25 people at one plant. This acquisition is expected to be finalised in the first quarter of 2023.
