Philippines: Knauf and the German Investment and Development Corporation (DEG) are to build a 16Mm2 gypsum wallboard plant in Bataan. The two companies will invest Euro40m in the joint venture project, according to the Philippines News Agency. The agreement was signed at the Philippine embassy in the presence of the Philippine ambassador to Germany Melita Sta. Maria-Thomeczek, Knauf CEO Manfred Grundke and Christian Laibach and Klaus Helsper on behalf of DEG.
The new plant is planned to be completed by early 2018 and is expected to create 100 direct jobs. The proposed investment was granted pioneer status, to provide tax incentives, by the Board of Investments and the Philippine Trade and Investment Centre-Berlin earlier in 2016.
