The Belgian building materials group Etex has completed the acquisition of the European and Latin American activities of rival Lafarge Gypsum.
The Lafarge Gyspum business operates 43 production facilities in 13 countries and with a turnover close to 1bn euro will represent 35% of Etex Group revenues.
The acquisition promotes Etex Group to one of the three major players in Europe. Etex Group itself operates 121 production facilities in 44 countries and with more than 16.800 employees it realizes € 2.86 billion sales. The plan is for the new group to be a joint venture with Etex holding 80% and Lafarge 20%.
Etex Group and Lafarge will keep strong ties as this acquisition will materialize through a joint venture (Etex 80%; Lafarge 20%).
In the UK, Etex Group covers roofing, cladding, fire protection and insulation, and includes the brands Marley Eternit and Promat. The acquisition of Lafarge Gypsum and its Lafarge Plasterboard UK and Ireland division extends Etex Group’s portfolio of solutions in dry construction and creates growth opportunities in both the commercial and residential construction markets.
Fons Peeters, CEO of Etex Group, said: “The combination with Lafarge Gypsum creates a new dynamic for Etex Group. Dry construction is one of the major strategic axes for Etex and will be a fundamental lever for growth in the future.
“The acquisition was a unique opportunity to acquire a leadership position in this market. Our strategic focus will give the plasterboard business new opportunities and allow it to serve its customers even better.”