New Zealand: The government has launched a ‘major’ review of competition rules to combat monopolies and improve economic productivity. Fuseworks Media News has reported that the review is partly a response to a gypsum wallboard supply ‘crisis’ in 2022.

Commerce and Consumer Affairs Minister Andrew Bayly said "We have launched a two-pronged approach: 1 – to update the competition settings in the Commerce Act to ensure our legal framework is right; and 2 – to review the governance and effectiveness of the Commerce Commission to ensure our regulatory and enforcement framework is right."

US: National Gypsum has donated US$1m to 42 schools and non-profit organisations in the US and Canada. Employees from subsidiaries including Gold Bond Building Products, Gold Bond Canada, PermaBASE Building Products, ProForm Finishing Products and Unifix nominated the beneficiaries.

Chair Thomas Nelson said that initiatives of this kind are “crucial in equipping the next generation with the skills and knowledge to become innovative leaders.”

Australia: Leichhardt Industrials Group has completed its acquisition of gypsum and salt extraction operations at Lake MacLeod, Western Australia. The operations also include a deepwater port at Cape Cuvier. Contify Investment News has reported that Leichhardt Industrials Group paid the seller, Rio Tinto subsidiary Dampier Salt, US$241m.

Canada: Fortress Investment Group has acquired a majority stake in Gyptech, using funds managed by its affiliates, for an undisclosed sum. The company’s management team hold a minority stake in the business. Moelis & Company is acting as exclusive financial advisor to Fortress and Evercore is acting as placement agent to Fortress on the financing. Fortress said that the purchase will provide strategic support for Gyptech's global growth, with an emphasis on the scaling of technologies and the expansion of client services.

Jeremy McKellar, the CEO of Gyptech, commented “With Fortress' backing, we will continue to grow our aftermarket services and bring to market energy-efficient technologies that are crucial for the future of sustainable construction.”

Ben Green, Director at Fortress, added “Gyptech is a great company with a market-leading position supplying equipment that's foundational to the building construction industry across the globe. With strong demand tailwinds and a great leadership team, we're excited about the company's growth opportunities.”

Gyptech designs, engineers and builds new and replacement production lines for gypsum wallboard and asphalt-shingle facilities. It was established in 1993 and holds offices in North America and Europe.

Fortress Investment Group is a global investment manager. Founded in 1998, it manages US$49bn of assets under management as of 30 September 2024, on behalf of approximately 2000 institutional clients and private investors worldwide across a range of credit and real estate, private equity and permanent capital investment strategies.