CODYY Compagnie de Saint Gobain (PK)

   By Max Bernhard 
 

Compagnie de Saint-Gobain SA (SGO.FR) said late Tuesday that it has bought U.K. acoustic-insulation company Pritex.

"With the development of electric vehicles, the need for differentiated noise control and lightweight solutions is gaining momentum," Saint Gobain said, adding that the acquisition will allow it to extend its offer for acoustic and thermal solutions in the automotive market.

Pritex employs 240 people and had sales of 20 million euros ($22.4 million) in 2018, it said.

Saint-Gobain didn't disclose the financial details of the deal.

Write to Max Bernhard at max.bernhard@dowjones.com; @mxbernhard

(END) Dow Jones Newswires

May 29, 2019 01:42 ET (05:42 GMT)

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