Recently the Knauf Group has accepted an offer from Etex to purchase the plasterboard and metal business of Knauf within Australia.
The transaction is subject to customary regulatory approvals and we expect completion of the deal in the first quarter of 2021, so for now nothing changes.
Once the transaction is complete, the plasterboard business of Knauf in Australia will become part of the Etex Group.
As the Etex Group is purchasing Knauf Australia as a going concern, the existing employees in Australia will continue to operate the business providing distributors and customers with the market leading customer services and trade preferred products that Knauf has become renown for.
Not familiar with the Etex Group? Etex is a global manufacturer of lightweight building products headquartered in Belgium. The group has a proven track record spanning over a century. In 2011, when Knauf acquired the Lafarge business in Australia, Etex acquired the Lafarge assets in Europe and South America.
As we look to the future, we’re excited about the expertise, innovations and energy that Etex will bring to the plasterboard and lightweight building materials side of the business.
We will continue to share updates on the transaction as more information becomes available. For more information on the Etex Group, please head to their website www.etexgroup.com.
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