New cooperative in Spain

The linking up of the four Spanish companies, Terrapilar, Laguardia, Moreira and Valls, to form a cooperative going by the name of Ibergroup, means that the European building materials cooperative Euro-Mat has gained a new member in the shape of Valls, a company geared to the bathroom and plumbing trade. Ibergroup operates 13 builders' merchant and DIY branches under the Terrapilar logo, 16 branches under the Laguardia and Moreira names, and four Valls outlets. According to a press announcement from Euro-Mat, these four companies, which will continue to act independently, together have more than 690 employees, generate annual sales of almost € 178 mio and cover more than two per cent of the Spanish building materials market.