The company specialized in construction products Grupo Lamosa announced the acquisition of the Mexican company Fanosa, specialized in the manufacture of expanded polystyrene (EPS) products, used mainly as insulators and lightening agents in the construction and packaging sectors.

In a statement sent to the Mexican Stock Exchange (BMV), it reported that the amount of the operation amounts to approximately 115 million dollars, which is still subject to the applicable legal approvals that are usual for this type of transaction.

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Grupo Lamosa plans to carry out the operation for the most part with its own resources, the company said in the document.

"The purchase of Fanosa strengthens Grupo Lamosa's growth and diversification strategy, allowing it to take advantage of its current capabilities to create a growth platform with a more comprehensive product offering focused on providing sustainable solutions for construction," he said.

The acquisition of Fanosa represents an approximate growth of 8% in Grupo Lamosa's consolidated income, based on the results of the last twelve months to June 2021, reported to the BMV.

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Grupo Lamosa is a Mexican company that focuses on the manufacture and commercialization of ceramic coatings and adhesives, with a presence of more than 130 years in the construction materials industry.

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