Lafarge sells Australian gypsum business
25 July 2011
Lafarge has agreed to sell its Australian gypsum business to rival building materials manufacturer Knauf for € 120 million (US$ 170 million). The deal follows the € 1 billion (US$ 1.4 billion) divestment of its European and South American gypsum operation to Etex Group, which was announced on July 14.
The businesses being sold in Australia comprise two factories that manufacture gypsum wallboard and other products, along with a national distribution and retail network. Lafarge says that the business made a profit before interest, tax, depreciation and amortisation (EBITDA) of € 13 million (US$ 18 million) last year.
Lafarge's exit from the gypsum business, is part of a wider programme to raise cash by divesting non-core businesses. This year has also seen the company sell cement and concrete businesses in the southeast US.
