Etex confirms dry construction leadership in Europe and Latin America - 26/12/2013

Press releaseEtex today confirms its dry construction leadership in Europe and Latin America by reaching an agreement to acquire the 20% stake in Siniat still held by the French industrial group Lafarge. After a successful collaboration with Lafarge Gypsum spanning almost 20 years, Etex will have full control over the Siniat gypsum business in Europe and Latin America. In Latin America it holds a number one position, in Europe it ranks among the three major players.

“With this deal, we can further leverage our dry construction approach – one of Etex’s major strategic axes – in Europe and Latin America. On top of that, acquiring the remaining 20% of Siniat concludes the transaction whilst clarifying our financial position, present and future, and is the culmination of our dryco approach in Europe and Latin America,” explains Fons Peeters, CEO of Etex.

Successful integration

Since the joint venture, Etex spared no effort to integrate the Siniat business and the results speak for themselves. Etex is now in the process of rolling out its commercial approach for dry construction, combining the gypsum products of Siniat and the fibre cement products of Eternit.

“Indeed,” comments Fons Peeters, CEO of Etex, “to concretely translate our vision on the European market and become a shaper in sustainable dry construction solutions, we started a long-term project aiming to develop synergies between our companies. Our goal is to establish a leadership position in particular for lightweight exterior through walls. Next year we will launch on the Belgian market.”

Etex is paying 145 million euro for the 20% stake. The transaction is subject to customary closing conditions and financing, and is expected to be completed in the coming weeks.

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