Etex to take over Creaton

The Brussels-based building materials group Etex has agreed to acquire the privately held voting capital in Creaton, Germany’s leading clay tile producer, subject to the competition authorities’ approval.  The proposed deal would considerably strengthen Etex’ roofing operations to compete with leaders Lafarge, Wienerberger and Imerys in the roof tile European market, adding production plants in six locations in Germany and one in Hungary.  Hitherto Great Britain has been the Belgian group’s main roof tile market in Europe, with more modest operations in Germany and Belgium.  Both Etex and Creaton are family controlled, but Creaton’s participating preference shares are traded on the German stock Exchange.