Gypsum industry news

India: US-based moisture measurement specialist MoistTech has deployed a manager and technical staff to India to liaise directly with its customers there. The new branch will take up all customer support functions previously enacted by Earthtekniks.

France: Saint-Gobain has reported nine-month sales of Euro31.1bn, down by 4.1% from Euro32.5bn in the nine months to 30 September 2018. Saint-Gobain has already achieved it annual divestment sales target of Euro3.0bn, further setting the group on track for a reduction in costs of Euro80m in 2019, Euro45m of this in the second half of 2019. The group was able to buy back 8.5 million of its shares over the period.

Switzerland: Sika has reported a net profit of Euro514m over the nine-month period ending 30 September 2019, up 7.4% year-on-year from Euro479m, amidst growth in all reg ions. Net sales grew by 12.9% in the period to Euro5.45bn from Euro4.83bn one year previously. Sika CEO Paul Schuler praised the performance, stating: “We are confident that we will exceed our sales target for fiscal 2019 of Euro 7.26bn.”

In October 2019, Sika unveiled its Strategy 2023, a six-part organisational growth model aimed at achieving a minimum of 6% growth annually.

Australia: US-based private equity company Lone Star Funds is considering acquiring Boral, according to the Australian newspaper. Lone Star Funds purchased building materials manufacturer Forterra from Heidelberg Cement. Boral later formed a joint venture with Forterra Brick in the US in 2016. In a separate deal Lone Star Funds later purchased German building materials producer Xella. Despite growing revenue from continuing operations, Boral’s net profit after tax fell by 7% year-on-year to US$301m in the year to 30 June 2019.

Denmark: Saint-Gobain has completed the sale of its Optimera construction materials distribution business to Davidsens Tommerhandel. The sale is part of its portfolio optimisation strategy. It follows the divestment of its Saint-Gobain Building Distribution Deutschland (SGBDD) business in Germany, its construction glass business in South Korea and its K Par K wood and windows business in France.