Lafarge acquires full control of Pioneer Plasterboard in Australia

2 August 1999

Lafarge has increased its interest in Australia-based Pioneer Plasterboard to 100% for a total cost of AUD 55 million (around 30 million euros). The Group previously owned 40% of the company, which manufactures and sells plasterboard, in a joint venture with Pioneer International Limited.

"This transaction enhances Lafarge's position in Australia, which is one of the main markets in the Asia-Pacific region," commented Bruno Lafont, Lafarge Executive Vice President in charge of the Gypsum Division.

The Division has two plants in Melbourne and Sydney, with distributors throughout Australia.

Gypsum is one of Lafarge's five Divisions, with 1998 sales of FRF 4.4 billion (670 million euros). The Division holds leading positions in Europe and is pursuing a program of international expansion. Over the last few months, it commissioned a plant in Shanghai, China, acquired two plants in South Korea and broke ground for a plant in Kentucky (Lafarge Corporation USA).

World leader in construction materials, Lafarge employs 66,000 people in more than 65 countries and generates annual sales of FRF 64.3 billion (about 10 billion euros).

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