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News USG-Boral will resume control of Australasian gypsum wallboard operations

USG-Boral will resume control of Australasian gypsum wallboard operations

Written by Global Gypsum staff
27 August 2019
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Australia/US: USG-Boral will resume 100% ownership of its Australia and New Zealand gypsum wallboard operations, subject to a call option for Knauf to buy back 50% within five years.

Boral CEO Michael Kane has commended Boral’s Sheetrock brand’s substantially strengthened position by comparison to that at the time of Knauf’s US$7bn acquisition of USG in April 2019, since which time Knauf has held 50% of USG-Boral’s gypsum wallboard business in Australia and New Zealand.

Boral will continue its joint operations with Knauf across Asia, at the centre of which are USG-Boral Asia’s purchase of Knauf Asian Plasterboard for US$533m, and its sale of its Middle Eastern ventures to Knauf for US$50m.

Last modified on 18 October 2019
Published in Global Gypsum News
Tagged under
  • Boral
  • USGBoral
  • Australia
  • New Zealand
  • Knauf
  • GGM44

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