Gypsum industry news

Iran: Azerbaijan’s Matanat-A gypsum plant is estimated to cost around US$10m. The head of mining and industrial organization of Semnan Province, Behrouz Asfadi, said that production at the plant was expected to start in the ‘near future,’ according to the Trend News Agency. Jafar Sarghini, the deputy minister of industries, mining and trade, added that Matanat-A is already using a gypsum mine in northern Iran and the plant is expected to be located nearby.

Mexico: Panel Rey has inaugurated its gypsum wallboard plant in Ciudad Juárez. The company spent over US$55m on the plant that it says it the largest in Latin America. It is its fifth wallboard plant in the country following plants at El Carmen NL, San Luis Potosi, Mexico City and Mexicali. Construction at the site started in 2010 and first production started in early April 2018. Nicolás Alverde Villareal, the general director of Panel Rey, and Javier Corral Jurado, the governor of the state of Chihuahua, attended the event. The new plant is expected to created 170 direct jobs.

US: Knauf has complained about USG’s decision to block its request for the company’s current stocklist materials that would allow it to communciate with other USG shareholders. The German competitor to USG and minority shareholder said in a letter to the board of USG said, “Questioning Knauf’s ownership of USG stock and whether we have ‘proper purpose’ for requesting these materials are the tactics of an entrenched management trying to thwart our right to communicate with fellow stockholders in connection with the annual meeting.” Knauf also threatned legal action in Delware if USG failed to provide with the information it desired.

USG rejected a US$5.9bn bid by Knauf to take it over in late March 2018. Knauf subsequently sent a letter to USG’s shareholders asking them to vote against director nominations in protest against the rejection.

Tunisia: Prime minister Youssef Chahed has met with Alexander Knauf, the chairman of Germany’s Knauf. Knauf plans to invest Euro80m and create over 300 jobs in gypsum projects based in the governates of Tataouine and Sidi Bouzid, according to African Manager. Knauf has operated a plaster business in the country since 2004.

US: Warren Buffett, the chief executive officer Berkshire Hathaway, plans to oppose the election of four board nominees at USG. The move places pressure on USG to accept a hostile takeover bid for US$6.6bn by Germany’s Knauf, according to the Financial Times newspaper. “Berkshire’s present intention is to vote against the four directors proposed by management,” said Debbie Bosanek, an assistant to Buffett. The talks between USG and Knauf were enabled in March 2018 by Berkshire Hathaway offering to sell its 31% stake in USG to Knauf. The German company holds a 10.5% stake in USG.