Etex acquires Knauf’s plasterboard business in Australia
Zaventem, 24 November 2020 – Etex announces it has signed an agreement with Knauf to acquire its plasterboard business in Australia. With this move, Etex expands its footprint on the attractive Australian construction market with significant growth opportunities. The acquisition is subject to customary closing conditions, with finalisation expected early 2021.
Knauf Plasterboard Pty Limited is a top 3 player in Australia’s plasterboard market and offers a competitive product portfolio ranging from plasterboards, metal profiles, finishing compounds to other specialty materials. The company operates three plasterboard plants in Victoria, New South Wales and Queensland, as well as a metal profile production facility in Queensland. The company employs over 300 people in total.
Valuable assets
This Australian plasterboard company has established a strong commercial presence in the construction sector since its foundation in 1988. Driven by a professional management team, it delivers a sound financial performance thanks to a valuable array of assets that includes state-of-the-art facilities, strong knowhow and a network of leading distributors and customers.
Adding a new regional pillar to a strong lightweight footprint
By acquiring Knauf Plasterboard Pty Limited, Etex adds a new and significant market to its plasterboard activities. In addition to the strong business advantages, the acquisition is consistent with Etex’s recent strategic refocusing initiative, which aims to reinforce the Belgian multinational’s strengths in lightweight and modular construction technologies and solutions around the world.
Etex CEO Paul Van Oyen is enthusiastic about the potential of this new addition to the Etex family, which expands the company’s plasterboard business into a market where the group is already present in the fire protection and fibre cement segments.
Paul Van Oyen, CEO of Etex: “I am happy to announce that we have signed today an agreement to acquire Knauf’s plasterboard activities in Australia. This transaction is a major milestone in the execution of our strategic roadmap initiated two years ago. Since then, we progressively exited non-core activities, such as the clay and concrete roof tiles business, that no longer fits with our portfolio. Our strategy is focused on being a leader in lightweight solutions and modular construction, offering sustainable, cost-effective, high-performing and inspiring building solutions to our customers. Plasterboards play a key role in such solutions, and we are looking forward to collaborating closely with our new colleagues to open up new opportunities for growth.”