Saint-Gobain has signed an agreement to acquire Celotex Group Limited, one of the leading British producers of high performance PIR thermal insulation boards.

For more than 30 years, Celotex has offered solutions dedicated to the improvement of energy efficiency in buildings.

Celotex had a turnover of £69.7M during the last fiscal year (to August 2011), and has 170 employees and 2 production lines based in Hadleigh near Ipswich. Celotex has recently extended capacity with a new £3M Distribution and Innovation Centre in order to support its growth in the fast developing PIR insulation category.

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The acquisition of Celotex by Saint-Gobain gives an exceptional opportunity for the further growth of Celotex in a variety of markets and broadens the portfolio of Saint-Gobain's insulation activity.

Celotex will operate as a stand alone business with the Saint-Gobain Construction Products Sector maintaining its existing brand and management team.

Completion of the acquisition is subject to approval of the Office of Fair Trading (OFT).

(CD/GK)