Mapei completed the acquisition of Bitumat from Gulf Investment Corporation.

Mapei, a multinational manufacturer of chemical products for the building industry, completed the acquisition of Bitumat, a waterproofing systems manufacturer, from Gulf Investment Corporation, an investment company. Financial terms were not disclosed. "The acquisition of Bitumat allows us to strengthen our operations and manufacturing output in the region and to become more actively involved in the Vision 2030 development programme, which envisages the construction of infrastructure, tourism, residential and entertainment projects throughout the country, partly in view of the Asian Winter Games in 2029 and the World Cup in 2034," Marco Squinzi, Mapei CEO.