French group Saint Gobain, the biggest glass producer in the world, has acquired a glass factory in Romania, owned by Italian businessman Alessandro Pietta. The value of this deal was not disclosed.

Pietta Glass Working holds a glass factory in Valenii de Munte, some 100 kilometers north of Bucharest. The company had a turnover of EUR 20.4 million, a net profit of EUR 2.7 million, and 450 employees, in 2015, according to data from the Finance Ministry.

Saint Gobain estimates the factory’s sales at over EUR 20 million this year and sees strong growth potential for the next years, according to the group’s statement.

The Italian investor was advised by UniCredit’s investment banking team and local law firm Popovici Nitu Stoica & Asociatii in this deal.

Saint Gobain had sales of almost EUR 40 billion and more than 170,000 employees worldwide in 2015. The group operates in 66 markets. In Romania, Saint Gobain has eight business lines (Abrasives, Brodrene Dahl, Glass, Isover, MTI Impex, PAM, Rigips, and Weber) and close to 1,100 employees in eight industrial sites. It operates through four local companies, which had some EUR 172 million in sales, in 2015.

The French group's biggest company in Romania is Saint-Gobain Glass, which owns a glass factory in Calarasi and had sales of over EUR 76 million in 2015.

Saint-Gobain Glass wants to launch new production line in Romania

editor@romania-insider.com