As part of its strategy of investing for growth, BPB announces that it has acquired majority control of both La Platriere SA and India Gypsum Ltd.

BPB has acquired 78% in La Platriere, a Swiss manufacturer of gypsum blocks and ceiling tiles whose products are sold primarily through BPB Rigips. Operating from a plant near Sion, it employs 30 people and in the year to 31 December 1999 reported EBITDA of SFr 1.9 million on net sales of SFr 6.3 million. The acquisition, for a net payment of SFr 6.7 million (£2.7 million) on an enterprise value basis, will strengthen BPB’s leadership of the gypsum blocks market in Switzerland, facilitate the development of ceiling tile sales and provide opportunities for manufacturing integration efficiencies.

BPB has invested Rs 191.2 million (£2.9 million) in cash to increase its interest from 40% to 74% in India Gypsum Ltd, the leading supplier of plasterboard systems in southern Asia. A further 6% will be acquired for Rs 33.8 million (£0.5 million) following receipt of local regulatory approval. Operating from a plant near Delhi, and a recently commissioned plant in Chennai, it employs 250 people and in the year to 31 March 2000 reported EBITDA of Rs 46.3 million on net sales of Rs 558.5 million. The acquisition strengthens BPB’s Asian presence and provides an established platform from which to develop the substantial growth potential of the Indian market for plasterboard.

Commenting on these transactions, BPB’s Chief Executive, Richard Cousins, said:

“Both acquisitions build on existing leadership positions and demonstrate our commitment to strengthening BPB’s world-wide presence in growth markets for plasterboard and related materials.”

Notes to editors

BPB’s additional 40% interest in India Gypsum Ltd is being acquired from its Indian joint venture partner, Hyderabad Industries Ltd (a C K Birla group company). The remaining 20% is held publicly and quoted on the Indian stock exchanges.
BPB is a world leader in the supply of plasterboard and related products for internal linings, serving growing markets for building materials in over 50 countries.

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