Spain: Etex has signed a deal with Germany-based Xella Group for the acquisition of its subsidiary URSA. The Belgium-based group says that the move confirms its portfolio shift towards lightweight construction materials. URSA produces its expanded polystyrene (EPS), extruded polystyrene (XPS) and glass and mineral wool insulation across a total of 13 sites and has operations in 20 European countries.
Chief executive officer Bernard Delvaux said “The acquisition of URSA confirms the portfolio shift initiated a few years ago by Etex to become a global leader in lightweight and modular construction. This acquisition is a strategic fit for Etex combining a new growth platform with a strong focus on sustainability. I have been truly impressed by both the quality of the management at URSA and its sound business model. I look forward to welcoming our new teammates to Etex and embarking on a prosperous future together.”
