(MENAFN- The Peninsula) SIG PLC, a leading distributor of specialist building products in Europe has acquired a majority shareholding in Drywall Qatar. SIG PLC is a FTSE 250 company listed on the London Stock Exchange and has sales in excess of $4bn.
Drywall Qatar is an independent distributor and specialist installer of interior finishing materials in the state of Qatar. The company has experienced strong growth stemming from its service orientated approach and the commitment to high quality products for the rapidly growing construction market of Qatar. Drywall Qatar has successfully supplied and installed specialist materials into a number of high profile projects where strong product quality, specification and execution were of paramount importance.
Drywall Qatar's Director, George Xydas, said: "We are excited to partner with SIG, a leading European player in the construction material procurement sector. SIG's financial strength and wide product portfolio of 30,000 products coupled to the key relationships with over 6,000 suppliers will allow Drywall Qatar to provide an even deeper product supply chain and enhanced product offering to both new and existing clients."
SIG PLC's Managing Director for the SIG Middle East, Paul Anderson, commented: "The acquisition of Drywall Qatar is a key step forward in enhancing SIG's existing operations across the Middle East in UAE, Qatar, Oman and Kingdom of Saudi Arabia. SIG is delighted to be partnering with the existing management team of Drywall Qatar to accelerate the development of the business and enhance its capabilities to support its customers in larger projects and with a broader product range."
SIG is a leading distributor of specialist building products in Europe. The Group has a product and service offering of significant scale with strong positions in its three core product areas of Insulation and Energy Management, Exteriors and Interiors.
SIG operates from over 660 trading sites across the UK and Ireland and Mainland Europe. SIG employs over 9,000 people. The Group's main countries of operation are the UK, France and Germany, which together account for 88 percent of its continuing revenues. Last year, in recognition of the fast pace and the innovative approach as well its exemplary service Drywall Qatar won the "Best Emerging Dealer for Qatar" award from its key partner Knauf.
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