On Friday, the Federal Antimonopoly Service of Russia (the FAS) announced its approval granted to Knauf GIPS LLC to purchase 50% stake in one of Russia's largest producers of building and finishing materials, VOLMA Corporation.
As Construction.RU was told by the press office of the Federal Antimonopoly Service, the transaction would not lead to restriction of competition.
We should remind you that Knauf GIPS was founded in 1932. The company has been operating in Russia since 1993. It specializes in the production of gypsum boards, dry mortars, plaster-throwing machine and insulating materials.
VOLMA Corporation was established on the premises of Volgograd gypsum plant in 1999. The enterprise produces construction and finishing materials based on gypsum and cement.