Gypsum industry news

Mexico: Saint-Gobain has entered into a definitive agreement to acquire construction chemicals producer Ovniver Group for US$815m. The parties expect to conclude the deal in early 2025. Ovniver Group produces its CeMix brand adhesives, renders, surface preparations and waterproofing products across 16 sites in Mexico, Guatemala, Honduras and the US.

Ovniver Group recorded revenues of US$285m in 2023, with an average annual growth rate of 20% over the past five years.

Switzerland: Chemicals producer Sika reported sales of €6.08bn in the first half of 2024, up by 9% year-on-year. The company’s earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 24% to €920m. During the reporting period, the company successfully integrated Germany-based MBCC. It also acquired US-based Kwik Bond and opened new production facilities in Peru and China. The company confirmed its Strategy 2028 targets for sustainable, profitable growth.

Sika CEO Thomas Hasler said "With our good operating result in the first half of 2024, we have shown that we are in an excellent position to gain market share even in challenging markets. Furthermore, our emissions reduction targets, aiming for net-zero emissions by 2050, have been validated by the Science-Based Targets Initiative (SBTi). This important achievement underscores Sika's commitment to sustainability and its proactive role in decarbonising the construction and automotive industries."

For the full year 2024, Sika forecast 6 – 9% sales growth in local currencies and an over-proportional increase in EBITDA.

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.

China: Switzerland-based Sika has opened its new Suzhou Technology Centre in Jiangsu Province. The centre will help Sika to develop its sustainable and high-performance technologies in order to grow it market potential throughout the Asia/Pacific region. By strategically expanding its research and development activities across all core technologies, Sika aims to further strengthen its global innovation leadership.

Chief innovation and sustainability officer Patricia Heidtman said "With our new technology centre, we are strengthening our innovation capabilities in the Asia/Pacific region and are fostering synergies in sustainable construction and environmentally friendly mobility. We have created the ideal framework for close collaboration between our research teams. It will thus enable us to develop forward-looking technologies for our customers that combine sustainability with performance."

Brazil/Egypt: France-based Saint-Gobain has acquired Matchem in Brazil and started exclusive negotiations to acquire IDP Chemicals in Egypt via its Chryso subsidiary. Both transactions are intended to strengthen the company’s presence in the construction chemicals market with a focus on concrete admixtures. Matchem and IDP Chemicals will be consolidated within the Construction Chemicals segment in Saint-Gobain’s High Performance Solutions division.

Matchem, established in 2011, employs around 50 people across two plants in Brazil and reported revenue of around Euro20m in 2022. Saint-Gobain also operates mortar company Quartzolit, sealant and adhesive company TekBond and GCP Applied Technologies in Brazil.

IDP Chemicals has been licensed by Chryso since 2018 and employs 25 people at one plant. This acquisition is expected to be finalised in the first quarter of 2023.

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.”

Mexico: Saint-Gobain has agreed to acquire construction chemicals producer IMPAC. The company operates a construction chemicals plant in Monterrey, where it employs 630 people. The takeover aims to strengthen Saint-Gobain’s Latin American regional position and to accelerate its growth by growing its light and sustainable construction product range. The transaction is due to close in late 2021 or early 2022.