By Pierre Bertrand

Compagnie de Saint-Gobain said on Tuesday that it has entered into a definitive agreement to acquire Adfil NV, a company specializing in fibers for concrete reinforcement.

Adfil will be consolidated within the French building-materials company's construction chemicals segment, Saint-Gobain said.

The transaction is expected closed by the end of 2023 and is subject to antitrust approvals, the company said.

Adfil employs around 70 people and operates two plants in Belgium. It generated revenues close to 40 million euros ($42.4 million) in 2022, Saint-Gobain said.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

September 26, 2023 12:21 ET (16:21 GMT)

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