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News Displaying items by tag: Acquisition

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UK competition body launches merger inquiry into acquisition of GCP Applied Technologies by Saint-Gobain

26 July 2022

UK: The Competition and Markets Authority (CMA) has formally launched the first phase of a merger inquiry into the proposed acquisition by Saint-Gobain of GCP Applied Technologies. The competition body said that proposed merger had met the threshold for investigation under UK law. The CMA will now decide whether to refer the merger for further scrutiny by 21 September 2022.

Saint-Gobain said it had agreed to buy construction chemicals producer GCP Applied Technologies for Euro2bn in late 2021 with a conclusion date to the transaction by the end of 2022.

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Knauf to acquire upcoming Newport gypsum wallboard plant from Gypfor

27 June 2022

UK: Portugal-based Gypfor has agreed to sell its upcoming Newport gypsum wallboard plant to Germany-based Knauf. Gypfor began building the plant at Associated British Ports’ Port of Newport in March 2021. Knauf estimates that it will commission it later in 2022, and commence full operations in 2023. The plant will be equipped with solar and wind power plants, as well as on-site gypsum wallboard recycling facilities. 54 people will be employed in gypsum wallboard production at the site. Knauf says that the addition of the new plant to its existing facilities at Immingham, Lincolnshire, and Sittingbourne, Kent, will enlarge its UK capacity by 20%.

Knauf’s UK managing director Ian Stokes said “This new plant will significantly increase our ability to service customers throughout the UK, and particularly those in South Wales, the Midlands and the South-West of England. It is a very exciting move for Knauf and, following recent investment in increasing the capacity of Knauf Insulation, reflects the confidence of the Knauf Group in the UK construction sector.”

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UK competition body looking into proposed acquisition of GCP Applied Technologies by Saint-Gobain

13 June 2022

UK: The Competition and Markets Authority (CMA) is considering whether the proposed acquisition by Saint-Gobain of GCP Applied Technologies could result in the creation of a relevant merger situation or lessen market competition generally. It has asked any interested party to comment on the transaction by mid-June 2022.

Saint-Gobain said it had agreed to buy construction chemicals producer GCP Applied Technologies for Euro2bn in late 2021 with a conclusion date to the transaction by the end of 2022.

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Saint-Gobain acquires Kaycan

07 June 2022

Canada/US: Saint-Gobain has acquired exterior building materials company Kaycan for US$928m. After the closing of the transaction in 2022, Kaycan’s US distribution arm will undergo divestiture to a third party. Kaycan currently employs 1300 people at 12 sites in Canada and the US. Saint-Gobain noted that the acquisition will complement its leadership in Canada, expanding its light and sustainable construction solutions offering in that market.

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Saint-Gobain acquires Fibroplac

30 May 2022

Portugal: Saint-Gobain has acquired Fibroplac, which operates the 10Mm2/yr Pombal gypsum wallboard plant in Central Portugal. Saint-Gobain already operates 10 plants, in addition to a research and development centre, in Portugal. Additionally, the France-based group acquired steel structures producer Falper.

The group said that the acquisitions align with its Grow & Impact strategy, which it says is being successfully implemented in Portugal."

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Knauf launches public tender to raise stake in Chiyode Ute

26 April 2022

Japan: Germany-based Knauf Group has launched a public tender offer to increase its stake in the Japanese wallboard producer Chiyode Ute from 50% to 75%. Knauf is the largest wallboard producer by installed capacity outside of China.

Speaking to Global Gypsum, Chiyode Ute’s Vice President and Representative Director Frederick Knauf said that the founding family Hirata would retain a 25% stake in the company. He added “For Knauf Group this is very exciting. Japan is the world’s third-largest wallboard market and one in which Chiyode Ute has a 20% market share. It is also a challenging market, where customers expect the best in terms of quality, delivery and customer service. We will continue to work with the Hirata family to further develop the company’s capabilities to better serve this demanding market in the future. Chiyoda Ute will be fully integrated into the Knauf Group.”

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ETEX boosts sales and earnings in 2021

04 April 2022

Belgium: ETEX recorded consolidated net sales of Euro2.97bn in 2021, up by 14% year-on-year from Euro2.62bn in 2020. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 12% to Euro522m from Euro468m, while its profit for the year dropped by 1.4% to Euro198m from Euro201m. The group’s building performance recorded like-for-like sales growth of 21% from 2020 levels and of 15% from 2019 levels. Its gypsum wallboard volumes grew year-on-year, while strong demand in all regions except South Africa impacted some export businesses through supply chain issues and increased shipping costs. The company adapted its prices to offset a sharp rise in raw material and energy cost prices.

During the year, ETEX acquired a top-three Australian gypsum wallboard producer and completed its rebranding as Siniat. It also diversified with the launch of a fourth group division, new ways, which includes light steel framing production operations.

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Saint-Gobain’s sales rise by 16% to Euro44.2bn in 2021

04 March 2022

France: Saint-Gobain’s sales grew by 15.8% year-on-year to Euro44.2bn in 2021 from Euro38.1bn in 2020. Its earnings before taxation, interest, depreciation and amortisation (EBTIDA) rose by 41% to Euro6.20bn from Euro4.42bn. Sales and earnings increased by 4% and 27% compared to 2019 levels before the coronavirus pandemic started. Sales revenue and operation income was reported up in all geographical regions. In North America the group noted that the integration of Continental Building Products had boosted its position in the US gypsum wallboard market and helped it to tap new sales channels.

“The records achieved in 2021 confirm that the group has entered a new post-transformation trajectory in terms of performance: market-beating sales growth, record earnings and margins, a high level of free cash flow generation that has more than doubled compared to previous years, and strong value creation for our shareholders thanks to strict capital allocation and the determined execution of our portfolio optimisation,” said Benoit Bazin, the chief executive officer of Saint-Gobain.

The group completed or signed 37 acquisitions in 2021, including Chryso and GCP Applied Technologies (GCP), marking its rapid expansion into the construction chemicals market. In November 2021 On November 15, 2021, Saint-Gobain said that it had acquired a gypsum plant in Nairobi, Kenya. It will be the company’s first production site in Kenya, where it will also invest in a construction chemicals production line.

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Saint-Gobain to acquire GCP Applied Technologies

06 December 2021

US: Saint-Gobain has agreed to buy construction chemicals producer GCP Applied Technologies. Reuters News has reported that the move continues Saint-Gobain’s industrial diversification, as it also seeks to maximise its growth opportunities from the US’s on-going infrastructure overhaul. Saint-Gobain expects to conclude the deal by 2023 and will finance the acquisition through cash on its balance sheet.

Chief executive officer Benoit Bazin said “After the successful acquisition of Chryso, GCP is the logical next step to expand Saint-Gobain's presence in admixtures and additives, which provide key solutions to de-carbonise the construction industry.” He added “This acquisition is a decisive step in establishing Saint-Gobain's leading position worldwide in construction chemicals, with total sales of more than US$4.51bn [combined], up from US$3.39bn.”

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Saint-Gobian enters Kenyan market through gypsum wallboard plant acquisition and acquires majority stake in ABE Mauritius

18 November 2021

Kenya/Mauritius: Saint-Gobain says that has acquired a gypsum wallboard plant in Nairobi, Kenya. The company says that it plans to build a construction chemicals line on the site of the plant. According to the Global Gypsum Directory 2021, Erdemann Gypsum and Tanzania Gypsum respectively operate 10Mm2/yr and 12Mm2/yr gypsum wallboard plants in the Kenyan capital city. Saint-Gobain has also taken over a majority stake in Chryso additives, mortars and waterproofers producer ABE Mauritius in Mauritius.

The company is seeking to expand its range of light and sustainable construction solution through the acquisitions. Its footprint in Africa extends over 12 countries across 29 facilities, nine of which it opened in the past two years.

Published in Global Gypsum News
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