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BPB, the plasterboard company, has accepted a £3.9bn takeover offer from Saint Gobain of France.
BPB is to increase its annual capital expenditure from £100m to £150m, in order to expand its plasterboard operations in Europe, North America and a number of emerging markets.
BPB has acquired control of Gyproc Benelux, the supplier of plasterboard to the Dutch and Belgian markets, in a £52m deal, and will sell Gyproc's German and Polish operations to Lafarge for £33m.
BPB is to acquire the US wallboard division of James Hardie Industries for £243m, partly funded by a £107m share placing.
BPB is to acquire Dogan Alci, the Turkish producer of building plasters, for £4.8m.
BPB is to acquire Rawlplug, the manufacturer of wall fixings, from Baxi Group for £27m, and will combine the business with its Artex-Blue Hawk decorative products division.
BPB has acquired the US wallboard and ceiling tile business of Celotex for £230m, giving it five US plants to add to its six in Canada.
BPB is to acquire Heidelberger Dammsysteme, the German manufacturer of expanded polystyrene insulation, for £22m.
BPB is to acquire the remaining 75% of Gyproc, the Scandinavian plasterboard company, from its joint venture partner Scancem for £95m.
BPB Industries, the plasterboard maker, is buying the remaining 80% of Borgardts, the German maker of gypsum plasters, for £21m.