BGC (Australia) Pty Ltd (BGC) confirms it has signed an agreement with Etex, the Belgium-based global building materials manufacturer and pioneer in lightweight construction, to acquire the BGC Plasterboard and BGC Fibre Cement businesses.
BGC chief executive officer Mr Daniel Cooper said “BGC Plasterboard and BGC Fibre Cement have delivered excellent financial results following a strengthening of the operating models and responsiveness to market conditions. This has resulted in significant interest from several high-profile parties who were eager to acquire both businesses with a view to further grow and develop the businesses and our people”.
Etex already has a significant presence in Australia with 14 sites across the country, almost 400 employees, and leading commercial brands such as Siniat plasterboards, Promat passive fire protection and high-temperature insulation, and EQUITONE fibre cement cladding panels.
Mr Cooper said “BGC Plasterboard and BGC Fibre Cement have highly experienced and talented teams, well placed manufacturing and distribution networks across Australia and New Zealand and a solid customer base. These attributes align strongly with the existing Etex business model and will present great opportunities for our people and businesses.”
The acquisition is subject to customary closing conditions with finalisation expected in early 2024.
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