Etex to become majority shareholder of Spanish manufacturer of gypsum products Pladur - 24/07/2017

Press releaseAn agreement has been reached to make Etex the majority shareholder of Pladur, a Spanish manufacturer of gypsum products. Spanish sector peer Coemac currently owns 59.31% of the company, while Etex holds the remaining 40.69% of the shares. The agreement – which is subject to customary closing conditions – provides for the sale by Coemac of 35% of the shares to Etex, with an option for Coemac to transfer the remaining 24.31% in 2020. Closing of the transaction is expected to take place in December 2017.

Strong foundation

In extending its ownership of Pladur – which dates back to the Lafarge Gypsum acquisition – Etex will become the majority shareholder of a renowned gypsum player. In the past forty years, the company has built a strong brand reputation on the Spanish market and beyond. While the core of its sales are generated in Spain, Pladur also exports its range of plasterboards, metal studs, plaster products, compounds and accessories to destinations in Europe, the Middle East, Africa and Latin America.

Pladur’s plasterboard production capacity is spread across its factory in Valdemoro (Madrid) and a soon-to-be operational facility in Gesla (Zaragoza). The company’s sites in Beuda, Martos and Mañeru are mainly used for the manufacture of plaster powders. Together, these sites employ 321 people.

Market potential

By building up to full ownership of Pladur, Etex solidifies its presence in a recovering building materials market. Since 2013, Spain’s housing and commercial market segments have been rebounding from a recession. On top of that, the market shows a growing demand for dry construction methods offering potential for further growth in Spain.

Strategic fit

“As we want to play a leading role in the building boards and dry construction market, broader and possibly full ownership of Pladur is an asset”, comments Paul Van Oyen, CEO of Etex. “We complete our European market coverage by adding Pladur to our portfolio and will be able to harness the potential of the company’s local base and export activities.”

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