Saint-Gobain still takes out the checkbook to decarbonize the building and chemistry

The manufacturer and distributor of building materials Saint-Gobain continues its aggressive acquisitions.This Monday, December 6, he announced the purchase of GCP Applied Technologies for $ 2.3 billion (2 billion euros).This new empletic comes seven months after the purchase of Chryso for 1.02 billion euros.

A few weeks before the entry into force of the new environmental regulations of buildings, known as "RE2020", building professionals, like Saint-Gobain, accelerate their ecological moult.All building materials can still be used but on condition, that at the horizon of 2031, "more usual materials such as brick and concrete have decarbonized".

Without waiting for January 1, 2022, professionals in the sector therefore have only one word in their mouths: "low-carbon" concrete, considered 40% less emissive in greenhouse gases than traditional concrete.To tell the truth, they no longer have the choice.From May 2021, the cemetery industry undertook, to the government, to lower its emissions by 25% by 2030 and 81% by 2050 its greenhouse gas emissions.

All means are good effectively to reduce the ecological footprint of classic concrete which contains 88% aggregates and sand as well as 12% cement, in itself responsible for 98% of gas emissions.One day, the Greater Paris metro promises to substitute cement with dairy, foundry and steelworks;Another, Holcim enters the capital of CCB Greentech to replace gravel and sand with wood.

A third strategic acquisition in seven months

It is in this normative context in full evolution that we must understand the buyouts of Saint-Gobain.GCP Applied Technologies and Chryso provide precious solutions to accelerate the decarbonization of group activities.Their common point?They are both historic actors in chemistry.The first is a "global platform recognized in cement additives, concrete adjuvants and waterproofing solutions for infrastructure, sales and residential".The second, which belonged to Lafarge, is proclaimed "world leader in construction chemistry".

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It is in the same movement is approaching that we must read the massive acquisition, three weeks ago, of MBCC Group by Sika for 5.5 billion Swiss francs (5.2 billion euros), of which-Gobain had up to 10% of the capital up to 10%.MBCC Group constitutes the old branch of construction chemistry of the German Basf group specializing in systems and additives for construction.

The chemical industry must also reduce its carbon footprint

These last three targets therefore belong to the family of chemistry which, too, must reduce, in the next decade, by 26% its greenhouse gas emissions on the basis of those of 2015.For Saint-Gobain, GCP Applied Technologies, Chryso and its historic Weber branch must allow it to "make custom customers", says its managing director Benoît Bazin.At Sika, MBCC Group is added to Parex in its portfolio since 2019 and a check for 2.5 billion Swiss francs (2.3 billion euros).

Saint-Gobain no longer has the choice

What if in reality, the side group no longer had the choice?From November 2020, CEO Pierre-André de Chalendar revealed, in the gallery, his roadmap to reach carbon neutrality in 2050.He specified his commitments to reduce greenhouse gas emissions by 2030 validated by the Science-Based Targets initiative.This structure "assesses and independently approves the objectives of companies to accelerate the transition to a low-carbon economy".

A year has passed and the speech has not changed.Walking in the footsteps of his former chief, the new executive boss Benoît Bazin insisted on the model of Saint-Gobain "extremely virtuous on carbon neutrality"."72% of turnover aims to minimize our impact and maximize solutions to avoid CO2," he said."We want to maximize our impact for our customers and minimize our own carbon footprint," said, in October, his DGA and DRH Claire Pedini.

On the Paris Stock Exchange at 4:45 p.m., the Saint-Gobain share increased by more than 2.09% to 59.03 euros, after having opened at 58.4 euros.Its shareholders will not be forgotten.Again two months ago, the financial director, Sreedhar N., had promised them 2 billion euros net.