BPB plc, a Tampa, Fla.-based gypsum wallboard manufacturer, has agreed to acquire the US-based gypsum business of James Hardie Industries NV for $345 million.
The acquisition includes three gypsum wallboard plants in Seattle, Wash.; Las Vegas, Nev.; and Nashville, Ark.; two adjacent gypsum mines providing secure sources of gypsum; a joint treatment plant; and a gypsum grinding and packaging facility. The company employs just under 600 people.
The sale is subject to U.S. regulatory clearance and other technical conditions. If these are satisfied, completion of the transaction is expected by May 2002.
BPB entered the U.S. market with the acquisition of the wallboard and ceiling tiles businesses of Celotex in July 2000.
