GCP Applied Technologies (GCP) Stock: Why It Increased Over 1.2% Today

By Amit Chowdhry ● Sep 22, 2022
  • The stock price of GCP Applied Technologies (GCP) increased by over 1.2% intraday today. This is why.

The stock price of GCP Applied Technologies (GCP) increased by over 1.2% intraday today. 

Why: Saint-Gobain has now obtained approvals from all relevant competition authorities for its acquisition of GCP Applied Technologies, a major global player in construction chemicals, announced on December 6, 2021. The acquisition will close on September 27, 2022. GCP will delist from the New York Stock Exchange.

With approximately $1 billion in revenues generated in 2021 by 1,800 employees working on 50 production sites in 38 countries, GCP Applied Technologies provides a global platform with established success in cement additives, concrete admixtures, infrastructure, and commercial and residential building materials.

This acquisition is a major milestone in establishing Saint-Gobain’s leading position worldwide in construction chemicals and furthers the group’s strategy as a worldwide leader in light and sustainable construction.