Saint-Gobain Acquires PMIM in Vietnam and Moves to Buy AGC Polymer Materials Stake in Japan

Saint-Gobain Acquires PMIM in Vietnam and Moves to Buy AGC Polymer Materials Stake in Japan

(IN BRIEF) Saint-Gobain has announced two acquisitions in the Asia-Pacific region as part of its strategy to expand in high-growth, value-creating construction markets. In Vietnam, the Group has completed the acquisition of Phu My Innovative Materials, one of the country’s largest and most advanced plasterboard facilities. PMIM generated around €20 million in revenue in 2025 and strengthens Saint-Gobain’s position in lightweight and sustainable building solutions. In Japan, Saint-Gobain has signed an agreement to acquire AGC’s majority stake in AGC Polymer Materials, a provider of polyurethane waterproofing and flooring solutions with around €50 million in 2025 sales. The transaction is expected to close in the first quarter of 2027. The acquisitions support Saint-Gobain’s “Lead & Grow” strategic plan and reinforce its construction materials and construction chemicals platforms in Asia-Pacific.

(PRESS RELEASE) COURBEVOIE, 28-Jul-2026 — /EuropaWire/ — Saint-Gobain has announced two targeted acquisitions in the Asia-Pacific region, strengthening its position in high-growth construction markets and reinforcing its focus on value-creating businesses.

The acquisitions come as Saint-Gobain reported 9.0% sales growth in local currencies in Asia-Pacific in the first quarter of 2026.

In Vietnam, Saint-Gobain has completed the acquisition of Phu My Innovative Materials, known as PMIM.

PMIM operates one of Vietnam’s largest and most advanced plasterboard facilities and generated revenues of around €20 million in 2025.

Saint-Gobain said the business has strong growth potential and will enhance the Group’s ability to meet rising demand for lightweight, efficient and sustainable building solutions across Vietnam.

The acquisition further strengthens Saint-Gobain’s already significant presence in the Vietnamese construction materials market.

The Group holds leading positions in the country in gypsum, light steel framing, cement board and construction chemicals.

Saint-Gobain’s Vietnamese operations are supported by a network of 3,200 retailers and 15,000 installers, with the number of installers having doubled since 2022.

The Group currently operates 12 plants in Vietnam and serves residential, non-residential and infrastructure markets with integrated building solutions.

Saint-Gobain generated revenues of more than €200 million in Vietnam in 2025, around 2.5 times the level recorded ten years earlier.

In Japan, Saint-Gobain has entered into a share transfer agreement to acquire AGC’s majority stake in AGC Polymer Materials.

AGC Polymer Materials is a leading provider of polyurethane waterproofing and flooring solutions.

The company generated sales of around €50 million in 2025.

The acquisition will reinforce Saint-Gobain’s construction chemicals platform in Japan, alongside GCP, and expand the Group’s exposure to the Japanese market.

Saint-Gobain generated revenues of more than €300 million in Japan in 2025.

The transaction in Japan is expected to close in the first quarter of 2027.

Saint-Gobain said both acquisitions are fully aligned with its “Lead & Grow” strategic plan.

The strategy aims to strengthen the Group’s leadership in high-growth regions, including Asia-Pacific, while focusing on businesses with strong development potential and clear value creation opportunities.

Through the acquisitions in Vietnam and Japan, Saint-Gobain is expanding its footprint in key Asian construction markets and deepening its capabilities in sustainable building materials, plasterboard, waterproofing, flooring and construction chemicals.

About Saint-Gobain

Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services adapted to the residential, non-residential and infrastructure markets. Its integrated and innovative solutions provide sustainability, performance and well-being for its customers. The Group is guided by its purpose, “MAKING THE WORLD A BETTER HOME”.

€46.5 billion in sales in 2025

162,000 employees, locations in 81 countries

Committed to achieving net zero carbon emissions by 2050

For more information about Saint-Gobain, visit www.saint-gobain.com and follow us on X @saintgobain

Media Contacts:

Patricia Marie (+33) 1 88 54 26 83

Laure Bencheikh (+33) 1 88 54 26 38

Yanice Biyogo (+33) 1 88 54 27 96

Saint-Gobain Analyst / Investor Contacts:

Vivien Dardel (+33) 1 88 54 29 77

Floriana Michalowska (+33) 1 88 54 19 09

Karim Safsaf (+33) 1 88 54 00 60

James Weston (+33) 1 88 54 01 24

SOURCE: Saint-Gobain