Paris, February 13, 2001 – Lafarge and Boral, partners in the Lafarge Boral Gypsum Joint Venture in Asia, have announced that they will build a plasterboard plant in South Korea in order to match the growing demand of the Korean market and to improve the services to customers.
Located in Pugok Industrial Estate, 90 km south of Seoul, the plant will supplement the existing plants of Yosu and Ulsan and is ideally located to serve the Seoul market. The plant will be supplied with synthetic gypsum (FGD) coming from the local power plants of KEPCO and will benefit from the latest technology thus allowing it to be the most competitive plasterboard plant in Korea.
The plant is designed for an ultimate production capacity of 54 million square meters. A first step production capacity of 30 million square meters will come into operation in the second half of 2002. The amount of investment required for this first step will be Euro 63 million (57 million USD) , including the land.
Leader of the Korean plasterboard market, the Lafarge Gypsum division Korea was created in December 1998. After a strong recession in 1998, the Korean plasterboard market has been growing again in 1999 and 2000. This investment demonstrates the continuous commitments of Lafarge and Boral to the development of the construction industry in Korea.
Boral (headquartered in Sydney, Australia) holds leading positions in each of the building and construction material business it operates in Australia, Asia and the USA. It has global sales of A$4.1 billion (Euro 2.4 billion) and employs over 13,000 employees.
The Gypsum Division of Lafarge has activities in 23 countries. With more than 3,600 employees, it had sales revenues in 2000 of 1 billion Euro.
World leader in building materials, Lafarge (headquartered in Paris – France) holds top ranking positions in each of its four Divisions : Cement, Aggregates & Concrete, Roofing and Gypsum. The Group employs 66,000 people in 70 countries. It generated sales of Euro 12.2 billion in 2000.
So the world builds better