The construction sector still has growth potential in the short and medium term in Argentina, according to the multinational Saint-Gobain, the company of French origin that produces and distributes materials and services for this sector.
For this reason, the company is advancing with expansion plans in the local market. The last step in this direction was the acquisition of the Térmica San Luis company, which will offer Saint-Gobain “a complement in rock wool insulating materials”, confirmed by the sanluiseño plant, Javier Gimeno, managing director of the company for Latin America.
For the French multinational, which arrived in Argentina in the 1930s but has consolidated in recent years, the activity in the country represents 10% of its business in Latin America (in turn, 10% of the total). Its greatest weight is in Brazil, where it has 60 plants. The acquisition of Térmica San Luis joins others made in countries of the region, such as Chile, Peru or Uruguay during 2022.
The entrepreneur explained that Térmica San Luis is a family business belonging to the entrepreneur Eduardo Jacobi, with more than 70 years of experience in the thermal insulation. And this, moreover, is the main stone wool supplier in Argentina and pioneer in manufacturing in the country.
This company employs 50 people in his plant, which will now join the neighbor 1,000 direct and indirect Saint-Gobain employees in Argentina, where there are 15 other production plants. According to the director, today the Puntana factory produces between 2,500 and 3,000 tons of material a year and the idea is investing to triple that production”, commented.
In this way, the operation allows Saint-Gobain to strengthen its presence in the thermal insulation segment and to expand its range of products made up of glass wool, waterproofing, facade cladding and drywall, among others.
According to Gimeno, construction continues with the wind in its favour. Not only because of the housing deficit that exists in the country, but also because of sustained demand: “the middle classes will continue to develop and drive demand. In addition to the progress of greater environmental awareness”, says the manager among the stimuli for the your business.
Among the adversities that the company faces in the local market are the problems with imports. While it produces nearly all of its products locally, it relies in many cases on imported inputs.
“The closure of factories due to lack of products has a negative effect on the Argentine economy“, says Gimeno. And he says that, in December, for this, the company had a decline in sales“despite the fact that demand exists,” he lamented.
Saint-Gobain was born in France more than 350 years ago and has historically remained a leader in making mirrors. One of his most exalted stained glass windows is the palace of Versailles, which exhibits the mirrors made by the company in the past. Then, over the years, its range of products has expanded to the present day, where the focus is on “lightweight and sustainable” construction, explains the company manager who, in 2121, registered sales of 44,200 million euros.
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Source: Clarin
