KNAUF, producer of building materials, announced a purchase of Armstrong assets including the plant of ceiling plates that is operating in the SEZ “Alabuga”. This deal enables the company to rebrand and establish a large-scale international business.
Armstrong sells its divisions in Europe, Middle East and Pacific region in order to concentrate on development in the USA – its main market. The cost of deal is 330m USD.
The head of the KNAUF Group CIS Janis Kraulis told about the deal during the meeting with President of the Republic of Tatarstan Rustam Minnikhanov. The company also buys the title “Armstrong”.
“Armstrong” plant has been operating in the SEZ “Alabuga” from 2015. Investment volume is 3,6b RUR. Production capacity is 20 million m2 of ceiling plates a year.