Etex to Acquire BGC's Lightweight Building Materials Division

Belgium-based global building materials producer Etex has signed an agreement with Australian building materials company BGC to acquire its gypsum board and fiber cement operations. This strategic move aims to expand Etex's activities in the attractive Australian market, which offers significant growth opportunities. The acquisition is subject to standard closing conditions and is expected to be completed in early 2024. Etex is acquiring BGC's lightweight activities including gypsum board, plaster, compound and cornice manufacturing as well as gypsum and fiber cement operations. The acquisition is expected to expand Etex's footprint in Australia. The agreement includes BGC's gypsum board facility in Western Australia, a 56,000 square-meter facility based in Perth, and a strong network of nine warehouses across Australia and New Zealand. Etex CEO Bernard Delvaux stated: "This agreement represents a strategic opportunity for Etex to complete our footprint in Australia and further increase the accessibility of our products and services to our customers. This will both strengthen our gypsum board offering and position us well in the growing fiber cement business through a wide range of products and good channel access." Source