Lebanon Businessnews News

French Saint Gobain-Weber fully acquires Sodamco
Group’s annual turnover around $120 million
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Saint-Gobain Weber, a France-based industrial mortar company, announced that it has acquired the remaining shares of Sodamco Holding. With this deal the ownership of Sodamco Holding was transferred entirely from Lebanese to foreign shareholders.

Sodamco, an expert in manufacturing construction chemicals, was founded in 1985 in Beirut. Its annual turnover is estimated at around $120 million.

In 2009, Weber bought a majority stake (60 percent) in Sodamco group from Serenade Holding. Since then, Sodamco changed its name to Sodamco-Weber. Before the recent acquisition, Sodamco-Weber’s board of directors included: Nadim Saikali as chairman and general manager, Hady Nassif as executive director, and each of Fady Debbane, Nayla Valente, Gilles Léva, Bertrand Clavel, and Jean Luc Gardaz as board members.

Sodamco-Weber will keep its name after the acquisition, according to Antoine Ghazal, marketing manager. Sodamco-Weber has subsidiaries in Syria, Jordan, Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and Oman.

“The company will continue with its operations as normal,” said Ghazal.
The acquisition is part of Saint-Gobain Weber’s expansion strategy to establish a regional presence in the Middle East. Sodamco-Weber has around 600 employees.
Reported by Yassmine Alieh
Date Posted: Dec 18, 2012
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