Boral says that its $US1.6 billion plasterboard and ceilings joint venture with USG will strengthen its position across Asia, Australasia and the Middle East.
The Business Spectator reports that, speaking at Boral's annual general meeting, chairman Bob Every said the JV would help the company’s goal of achieving long-term growth in Asia.
The strategic joint venture will be called USG Boral Building Products, to be headed up by current CEO of Boral Gypsum Fredric de Rougemont.
The 50/50 JV will cover manufacturing and distribution across 12 countries.
“The combination of our gypsum and related businesses in Asia, Australasia and the Middle East provides an unparalleled manufacturing and distribution footprint, encompassing some of the highest growth markets in the world,” said de Rougemont in a statement when the JV was announced.
“The joint venture’s access to USG’s unrivalled technology and continued innovation will provide the business with superior performing products that are lighter, stronger and more efficient to manufacture, transport and install. This will build on Boral’s well-established gypsum operations in the region, creating a formidable and sustainable leadership position.”