Kaycan LTD., construction materials and aluminium extrusions provider hailing from Montreal, Canada, was successfully acquired by Saint-Gobain on July 29 with an investment of US$928 million, after a month-old announcement by the company on May 31, 2022. Kaycan is the leading supplier of polymer shakes, engineered wood siding, vinyl and aluminium siding in Canada plus the US states.
With the world moving towards sustainability, more and more companies are picking out alternatives to steel and other heavy metal to complement their industrial design. Aluminium comes in very handy since it is lighter than steel and is a non-ferrous metal that can be recycled for an infinite time. Therefore once an aluminium product is installed, it not only adds value for its time span but also after the end of life.
This acquisition will establish Saint-Gobain not only as a global supplier of light and sustainable construction materials but also extend the company’s expertise in the field of engineered wood and vinyl or aluminium siding creation. Saint-Gobain wants to build a concrete base in the US and adjoining countries.
As per the clause of the acquisition, the dissolution of Kaycan’s small distribution business in the US is going very well, with the complete fiasco estimated to end in the second last quarter of 2022. Kaycan has joined the local league of North American construction groups set within the vicinity of America.
The formal acquisition of Kaycan Ltd. is to be followed by a number of essential acquisitions by Saint-Gobain in the upcoming months.
In May, Saint-Gobain declared that they would be taking over the operations of the CertainTeed roofing facility in Peachtree City, Georgia, with an investment of US$100 million to increase the unit’s productivity and also lessen the carbon dioxide produced. Also, in the same timeframe, the company announced a US$28 million investment for its ADFORS technical textile products facility in Dublin, Georgia, generating an opportunity for 400 jobs.
Before all these occurred, Saint-Gobain had also proposed a US$118 million investment to expand the CertainTeed roofing plant in Oxford, North Carolina. Founded in 1904, CertainTeed is a Pennsylvania-based construction company serving its customers for more than 115 years. They are the pioneers of exterior and interior building products, like, siding, roofing, railing, fence, trim, insulation, solar, ceilings and drywalls.
It is pretty evident that Saint-Gobain, the well-renowned producer of glass and other industrial materials, is trying to spread its wings over the US market and meet its demand with these new acquisitions. They are hell-bent on their ideology of ‘making the world a better home.’
Responses
