Australia/Belgium:Etex picks up Knauf Australia

摘要

Belgium-based Etex has agreed to buy Knauf Australia from Germany-based Knauf for an undisclosed sum.The company's portfolio consists of three gypsum wallboard plants,located in Altona,Victoria,Matraville,New South Wales and Bundaberg,Queensland,and it employs over 300 people.The Australian newspaper has reported that Etex plans to treat the newly acquired asset as a going concern,in which it will retain existing staff,including management.The acquisition is subject to customary closing conditions,with finalisation expected in early 2021.