Gypsum industry news

Bulgaria: Gips has reported that it made a consolidated loss of Euro2.1m in 2014 compared to the consolidated profit of Euro0.32m it declared in 2013. Consolidated revenue rose by 0.8% year-on-year in 2014 to Euro3.17m, Gips said in its latest financial statement. Natural gypsum producer Gips was set up in 1965.

Bulgaria: Bulgarian gypsum producer Gips has announced that its consolidated loss widened by 33% to Euro1.6m in January - September 2014. Consolidated revenues decreased by 5.0% year-on-year to Euro2.45m in the first nine months of 2014. Its operating loss widened to Euro431,239 during the period, from Euro88,500 in 2013.

Bulgaria: Bulgarian gypsum producer Gips has reported that its net loss in the first nine months of 2012 has increased by 80% to Euro1.28m from Euro0.71m in the same period in 2011. The company's revenue rose by 35.7% to Euro4.35m in the same period, according to a bourse filing. Gips, Bulgaria's sole producer of natural gypsum, was set up in 1965. The company has absorbed a total of Euro11.2m in investments since it was privatised in 2006.

Bulgaria: Bulgarian building materials maker Gips has launched a Euro8m factory for the calcination of natural gypsum in the north-western province of Vidin. Company officials announced that the new factory has a capacity of 80,000t/yr and has improved energy efficiency by 38% compared to the old factory.

Bulgarian construction company Montagengineering built the plant and the equipment was supplied by Germany's Claudius Peters Projects. The project was co-financed with Euro1.8m from the European Union funded operational program 'Competitiveness' while Gips provided the remainder from own funds.

Gips, Bulgaria's sole producer of natural gypsum, was set up in 1965. It intends to boost its exports, as it currently sells some 90% of its output on the domestic market according to its executive director Plamen Vassilev. The company currently exports to Serbia and is considering entering the Romanian market. The new factory and the company's nearby gypsum mine employ a total of 224 people.