Etex, the Belgium-based global building materials manufacturer and pioneer in lightweight construction, has signed an agreement with the Australian construction materials company BGC to acquire its plasterboard and fibre cement businesses. With this deal, Etex expands its activities in the attractive Australian market, with significant growth opportunities. The acquisition is subject to customary closing conditions, with finalisation expected in early 2024.
Etex is acquiring the lightweight activities from Australian construction materials company BGC, namely gypsum – with the manufacturing of plasterboards, plasters, compounds and cornice – and fibre cement. This acquisition will allow Etex to broaden its footprint in Australia.
Included in this deal is BGC’s plasterboard plant in Western Australia, a 56,000-square-metre facility located in Perth, and a strong network of nine warehouses across Australia and New Zealand.
Upon finalisation of the transaction, close to 200 new teammates will be joining Etex in Australia. In sales, the activities that will be subject to the acquisition represented AUD 155 million, or EUR 93 million, for the full-year 2023 closed at the end of June.
“This deal is a strategic opportunity for Etex to complement our footprint in Australia and further increase the accessibility of our products and services for customers. This will both reinforce our plasterboard offering and position us well in the growing fibre cement activities through a broad product range and good channel access,” said Bernard Delvaux, CEO of Etex.
“We are confident in BGC’s very experienced management team and expect long-term market growth in Australia driven by an increasing population and a good penetration of key products, particularly plasterboard and fibre cement sidings,” said Gavin Burton, Regional Head for Etex’s Building Performance division in APAC.
Etex already has a significant presence in Australia with 14 sites, almost 400 teammates, and leading commercial brands such as Siniat plasterboards, Promat passive fire protection and high-temperature insulation, and EQUITONE fibre cement cladding panels.
The acquisition is subject to customary closing conditions with finalisation expected in early 2024.