Etex delivers on its strategic ambitions with two roofing sector divestments

Zaventem, 10 July 2020 – Etex announces the divestments of Marley (SA) (Pty) Ltd to Kutana Investment Group, as well as its 50% stake in RBB NV (Belgium) to BMI Group.

Executing on a strategic milestone

In line with its strategic shift initiated two years ago, Etex recently completed the divestment of two businesses in its Residential Roofing division. This decision follows on the heels of two larger divestments Etex made last year, those of Marley Limited (UK) and Umbelino Monteiro S.A. (Portugal).

Paul Van Oyen, CEO of Etex: “Divesting these businesses is yet another milestone on our strategic roadmap to become a world-leading player in the cost-effective, quality-focussed building technologies of the future. We are confident that both companies will be in good hands with their new parent companies.”

South African investment group purchases Marley (SA) (Pty) Ltd

Etex sold Marley (SA) (Pty) Ltd to the South African Kutana Investment Group with support of the managing director. Active in the national concrete tiles business, Marley (SA) (Pty) Ltd operates four plants and employs 300 people.

As a strategic investment for Kutana, Marley (SA) (Pty) Ltd faces a promising future, led by a strong and experienced leadership team.

BMI purchases 50% of RBB NV

In addition, Creaton Benelux NV, a wholly owned subsidiary of Etex NV, has sold its 50% stake in RBB NV (Belgium), a company which produces concrete tiles, as well as its concrete tiles business in the Benelux, to BMI Group.

Creaton Benelux NV can focus more sharply on its core segment in the Benelux, clay tiles, in close collaboration with the global Creaton network.