Larne quarrying firm bought by French company [Yahoo! Finance]
COMPAGNIE ST GBN UNSP/ADR (CODYY)
NASDAQ:AMEX Investor Relations:
saint-gobain.com/en/finance
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Source: Yahoo! Finance
The French multinational Saint Gobain has agreed to buy Kilwaughter Minerals, a County Antrim quarrying and mineral processing firm. Kilwaughter has its headquarters at its limestone quarry in Larne from where it supplies construction and agriculture customers throughout the UK and Ireland. Last year it made a profit of almost £9m on turnover of £50m. The terms of the takeover have not been disclosed and it will have to be approved by the UK competition watchdog. 'Part of its strategic plan' The company employs about 200 people, mostly in Larne, and also has distribution centres in the Republic of Ireland and Great Britain. Gary Wilmot, the chief executive of Kilwaughter Minerals, said the deal would allow the business to continue its "ambitious growth journey". Saint Gobain is one of the world's largest suppliers of building products like glass, mortar and timber. It has about 160,000 staff and a turnover of €48bn (£40bn) in 2023. The company said the takeover was
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