Etex Group to acquire Australian plasterboard business of Knauf for $260m.

Etex Group, a building materials supplier, agreed to acquire Australian plasterboard business of Knauf, a building materials supplier, for $260m. "I am happy to announce that we have signed today an agreement to acquire Knauf’s plasterboard activities in Australia. This transaction is a major milestone in the execution of our strategic roadmap initiated two years ago. Since then, we progressively exited non-core activities, such as the clay and concrete roof tiles business, that no longer fits with our portfolio. Our strategy is focused on being a leader in lightweight solutions and modular construction, offering sustainable, cost-effective, high-performing and inspiring building solutions to our customers. Plasterboards play a key role in such solutions, and we are looking forward to collaborating closely with our new colleagues to open up new opportunities for growth," Paul Van Oyen, Etex CEO.