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News Knauf Australia denies sale rumours of Bundaberg wallboard plant

Knauf Australia denies sale rumours of Bundaberg wallboard plant

Written by Global Gypsum staff
17 December 2019
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Australia: Gavin Burton, the managing director of Knauf Australia, has denied speculation in the local press that the company was planning to sell its Bundaberg gypsum wallboard plant in Queensland. Burton told the Bundaberg NewsMail newspaper that the company was ‘very happy’ with its plant.

The response followed speculation in the Australian newspaper that Knauf might want to sell assets in the country in order to preserve a 50% stake in USG Boral’s business in Australia and New Zealand. Germany’s Knauf acquired USG in April 2019. In August 2019 Boral said it had entered into an agreement with Germany’s Knauf to form an expanded 50:50 plasterboard joint venture in Asia and for Boral to return to 100% ownership of USG Boral Australia & New Zealand. However, this was subject to regulatory approval.

Last modified on 17 December 2019
Published in Global Gypsum News
Tagged under
  • Australia
  • Knauf Australia
  • Knauf
  • Plant
  • USG Boral
  • GGM45

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