Belgian sealant and PU foam producer Soudal is strengthening its position in the Middle East through two strategic acquisitions, targeting one of the world’s fastest-growing construction markets.
De Tijd reports this.
In Saudi Arabia, Soudal has acquired a 75 percent stake in Al Rooq Trading, a longtime distributor of its products. The company plans to boost investment in inventory and expand its presence in Riyadh, aiming to triple local revenue from 10 million euros to 30 million euros in the coming years.
In Egypt, Soudal has taken over Falcon Sealant, a producer and distributor of silicones and adhesives with 10 million euros in annual sales and a new factory in Cairo employing 42 people. CEO Dirk Coorevits highlighted Egypt’s improving business climate and increased regional investment as key opportunities.
Next year, Soudal will also begin building a large silicone factory and warehouse in the United Arab Emirates, adding to its two smaller local production sites. Across its Middle Eastern operations, the company expects to reach 60 million euros in annual output within five years.
With regional megaprojects booming and Gulf countries shifting from petrochemicals toward specialized chemical production, Soudal’s founder Vic Swerts and CEO Coorevits see the Middle East as a major growth engine for the Turnhout-based group, which reported a record 1.46 billion euros in revenue in 2024.
