Gypsum industry news

Ethiopia: The Geological Survey of Ethiopia (GSE) has identified 20 new mineral deposits. Eighteen of the deposits contained gypsum, limestone, marble and potash. Nineteen of the deposits were found in Oromia Region. The 20th, a coal deposit, was found in Wolkite Town, Southern Nations, Nationalities and Peoples' Region.

Russia: Gypsum producer Volma has drawn a one-year loan of Euro4.30m from VTB bank. The company will finance its business operations with the funds. Volma has already secured Euro18.2m in loans at VTB.

US: The board of directors of the Genesee County Economic Development Centre (GCEDC) has approved the final resolution for application for assistance from United States Gypsum (USG).

USG is planning to upgrade its papermill in Oakfield, New York State. The project will include replacing and relocating equipment, stock cleaning and enhanced manila production to improve the safety, quality and efficiency of the facility. The upgrades will consist of three phases and is expected to commence in 2016. The projected capital investment is approximately US$23m and the investment will retain 98 manufacturing jobs and create 12 new production jobs.

Romania: A Romanian investment fund, SIF Muntenia, has sold its 10.3% stake in Lafarge Agregate Betoane to its majority owner, Lafarge, for Euro1.3m. Lafarge bought 619,148 shares of Lafarge Agregate Betoane from SIF Muntenia at a price of Euro2.07/share. Lafarge Agregate Betoane quarries ornamental and building stone, limestone, gypsum, chalk and slate.

Canada: USG's Canadian subsidiary, CGC Inc, has introduced CGC Sheetrock® Brand UltraLight Mold Tough® Panel to the Canadian market. It is the lightest 1/2" mould-resistant gypsum panel available in the industry. This innovative gypsum panel is 20% lighter than traditional water and mould-resistant panels, making it easier to lift, carry and install.

CGC Sheetrock® Brand UltraLight Mold Tough Panels have a non-combustible, water and mould-resistant core encased in 100% recycled water and mould-resistant green face and brown back papers. The green face paper is folded around the long edges to reinforce and protect the core and the ends are cut square and even. The long edges of the panels are tapered, allowing joints to be reinforced and concealed.