LONDON (ShareCast) - (Sharecast News) - French building materials manufacturer Saint-Gobain said on Friday that it has agreed to buy Kaimann, a German manufacturer of elastomeric insulation products.
The acquisition, which is Saint-Gobain's 18th this year, further enhances its range of insulating solutions, reinforcing its presence on the fast-growing segment of technical insulation, which includes air conditioning, refrigeration and heating.

"This operation allows the group to reinforce its positioning in a market where it is leader and to complement its portfolio of materials and technologies," the company said in a statement.

Founded in 1959, Kaimann employs 320 people and achieved sales of €70m in 2017.

Saint-Gobain did not disclose any financial details of the deal, which is subject to the approval of antitrust authorities.

At 1040 BST, the shares were down 1.8% to €35.46.

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