Gypsum industry news

Belgium: Etex has recorded a first-half net recurring profit of Euro100m, up by 6.3% year-on-year from Euro94.1m in the same period of 2018. Paul Van Oyen, Chief Executive Officer (CEO) of Etex, noted the role of ‘strong market demand, mostly driven by the Building Performance division’ in driving the company’s growth. Only its Etex Exteriors division, launched on 1 January 2019, has not shown net profitability. Etex’s financial debt has decreased by Euro181m to Euro538m from Euro719m on 30 June 2018.

Belgium: Etex’s Building Performance division’s sales rose by 6.9% year-on-year to Euro1.65bn in 2018. It attributed this growth to the good performance of gypsum wallboard sales in most territories and especially in France, the UK and Central & Eastern Europe. However, challenging market conditions and competition were reported in Germany. Overall, the group’s revenue rose by 4.1% to Euro2.9bn from Euro2.78bn. Its earnings before interest, taxation, depreciation and amortisation (EBTIDA) fell by 9.5% to Euro391m from Euro432m. Issues with negative exchange rate effects and hyperinflation in Argentina were reported.

Romania: France’s Fives has supplied a new FCB TSV1600 MF for Etex’s calcined gypsum grinding plant in Aghires. The project is part of an upgrade to the unit to close the existing open circuit. Commissioning took place in late January 2019.

Peru: Eternit plans to upgrade its gypsum wallboard plants at Cercado in Lima and Huachipa. Wallboard consumption is 0.4m²/yr per capita in Peru compared to 2.7m²/yr per capita in Chile, according to the Gestión newspaper. The subsidiary of Belgium’s Etex plans to increase its revenue from wallboard to 50% from 40% at present.

Spain: Pladur Gypsum has officially opened its 12Mm²/yr Gelsa wallboard plant. The unit had an investment of Euro60m and it has created 75 jobs, according to the Periódico de Aragón newspaper. Start-up at the plant began in September 2018 and full production started in January 2019. The unit currently has a three-shift work pattern and this is expected to change to four shifts by the end of 2019.

Belgium: Etex’s Building Performance division’s sales revenue rose by 5.35% year-on-year to Euro1.53bn in 2017 from Euro1.45bn in 2016. Strong performance in the UK, France and Germany contributed to this result in Europe. In Latin America growing markets were noted in Argentina, Brazil and Peru. The group acquired full control of Spanish gypsum wallboard manufacturer Pladur in 2017.

Overall, the group reported that its revenue rose by 4.5% on a like-for-like basis to Euro2.79bn across all business lines. Its earnings before interest, taxation, depreciation and amortisation rose by 7% to Euro432m from Euro404m.

Spain: Etex has become the sole shareholder of Pladur following the completion of a deal to buy all the remaining shares from Coemac. The deal was first announced in July 2017 and following customary closing conditions it closed on 22 December 2017. Pladur operates one gypsum wallboard plant near Madrid and it has been building a second plant at Gelsa that was due to open in mid-2017.

Colombia: Grupo Etex is projected to invest US$77m in its production activities. 50% of the funds will be used to increase productivity, with 25% allocated to innovation and further 25% invested in safety and maintenance. According to the manager of Grupo Etex, Mauricio Lopez, the company will focus on rural housing in Colombia, the demand for which continues to grow thanks to the recent peace agreement and development of the agricultural industry.

Furthermore, Lopez anticipates a growth in exports to Venezuela and Ecuador, as well as the Caribbean and Central American regions in 2018, motivated by the recent devastation caused by a series of hurricanes. Currently, Grupo Etex is experiencing a strong demand from Puerto Rico, especially for Superboard cement panels and gypsum wallboard.

Colombia: Gypsum wallboard producer Gyplac and cement producer Skinco Colombit will rebrand as Grupo Etex. The group also has investments worth US$77m planned over the next five years, according to Dinero magazine. The company holds a 12% share of the building materials market locally.

Spain: An agreement has been reached to make Etex the majority shareholder of Pladur, a Spanish manufacturer of gypsum products. Spanish sector peer Coemac currently owns 59.31% of the company, while Etex holds the remaining 40.69% of the shares. The agreement, which is subject to customary closing conditions, provides for the sale by Coemac of 35% of the shares to Etex, with an option for Coemac to transfer the remaining 24.31% in 2020. Closing of the transaction is expected to take place in December 2017.