Bangkok--Feb 16--Thai Gypsum Products Ltd
Thai Gypsum Products Public Company Limited yesterday announced it has signed a strategic partnership agreement with BPB Gypsum B.V. (BPB) for a significant investment in Shanghai Orient Gypsum Co., Ltd. Under the agreement, BPB is injecting some US$24.7 million in Shanghai Orient Gypsum, in which Thai Gypsum holds shares through a subsidiary company, Asia Gypsum Co., Ltd.
BPB's investment in Shanghai Orient Gypsum has increased the company’s registered capital, reducing Asia Gypsum’s shareholding from 97.2 percent to 38.11 percent. BPB now holds 61.56 percent of Shanghai Oriental Gypsum, with the remaining 0.33 percent of shares held by the Shanghai Guangyuan Economic Development Corp.
“Thai Gypsum is pleased to have such a committed, significant partner join us in the Shanghai Orient Gypsum venture,” said Khun Krisada Kampanatsanyakorn, Thai Gypsum’s Managing Director. “As part of a premiere global building materials organisation, BPB offers a wealth of knowledge, experience and management resources, plus access to innovative product research and development capabilities. This strategic partnership will ensure Shanghai Orient Gypsum is ready to address China’s tremendous growth, while strengthening Thai Gypsum’s overseas network.”
“BPB’s vision is to develop global investment opportunities to become the world’s leading gypsum group. We will expand our business by investing in established and emerging plasterboard markets worldwide. BPB welcomes the opportunity to address the immense China market through equity participation in Shanghai Orient Gypsum, and looks forward to developing the strategic partnership with Thai Gypsum,” said Paul Withers, BPB Asia’s Regional Director.
Shanghai Orient Gypsum was established in 1995 to manufacture, distribute and sell gypsum board, plaster, modular housing and other gypsum products.
BPB Gypsum B.V., incorporated in the Netherlands, is part of the BPB Group. BPB is a world leader in gypsum products, with an annual turnover of $2.1 Billion. The company’s vertically integrated business includes gypsum plasterboard, plasters and plasterboard liner. BPB is broadening its international presence with successful joint ventures established in Latin America and India. The company is now focusing on other emerging markets, especially in the Asia/Pacific region.
Founded in 1968, TGP is one of the region’s leading suppliers of integrated building material systems and products. The company is pioneer of the "dry system" of construction and produces complementary products and system that include gypsum boards, plaster products, wall, and ceiling systems, prefabricated housing and renewal energy systems. TGP invests heavily in research and development of innovative, high value products and components for export markets. The company has manufacturing facilities in Thailand, Indonesia and China, and more than 70 percent of its products are exported throughout the Asia Pacific region. End.
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