Saint-Gobain acquires 70% stake in Brazilian industrial abrasives group

14th Apr 2015 14:24

French manufacturing giant Saint-Gobain has acquired a 70% stake in Brazil-based British Indústria e Comércio Ltda for an undisclosed amount.The Paris- and London-listed company said the deal with the Brazilian group, which manufactures and sells non-woven abrasives for industrial applications, will strengthen its position in the industry and add new customers to its portfolio.Saint-Gobain shares were down 1.21% to €41.80p at 14:24 on Tuesday.