Gypsum industry news

Germany: Chemicals company BASF's sales fell by 19% year-on-year to €37.3bn in the first half of the 2024 financial year (FY2024). Its earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 34% to €4.72bn. As a result, the company now anticipates full-year sales of €73 – 76bn in FY2024, down from the previously forecast €84 – 87bn. It revised its earnings forecast to €4 – 4.4bn, from €4.8 – €5.4bn previously. At the same time, it increased its anticipated reduction in CO₂ emissions for the year. It now expects to generate 17 – 17.6Mt of CO₂ from its operations, down from its previously forecast 18.1 – 19.1Mt.

Switzerland/UK: Sika says it plans to complete its planned acquisition of MBCC Group in the first half of 2023 following the decision by the UK Competition and Markets Authority (CMA) to further investigate the merger. Previously the construction chemicals company intended to close the transaction by the end of 2022. Sika signed a deal to buy MBCC Group, formerly BASF Construction Chemicals, in November 2021.

Thomas Hasler, the chief executive officer of Sika, said "Sika has already received unconditional regulatory approval across a number of jurisdictions, including Japan, China, Brazil, South Africa, Saudi Arabia, Turkey and Thailand. For a transaction of this magnitude a detailed analysis is not unusual. The adapted timeline for the closing does not impact the strategic attractiveness of the transaction. It remains highly accretive, and our expectation that it will generate annual synergies of Euro160m - 185m is unchanged."