German Gypsum Firm to Open on $43.4M Plant in Philippines

German building materials producer Knauf Gips KG and the German Investment and Development Corporation broke ground on a manufacturing plant in the Philippines, several local news organizations reported.

“This state-of-the-art manufacturing plant marks our confidence and optimism in one of Southeast Asia’s fastest-growing economies, if not the best performing one,” said Murray Reed, Knauf chief executive officer for Asia, according to a report by Northbound Philippines News Online. “We hope to contribute to the Philippines’ growth by creating employment opportunities while serving the plasterboard requirement of its booming construction industry.”

Operating as Knauf Gypsum Philippines Inc., the six-hectare site at the Calaca Seaport in Batangas will produce plasterboards and other building solutions as demand for construction materials rises in the country.

“Plasterboard has become a popular building material due to its quicker and easier installation, fire resistance, and versatility,” a statement by the Philippines Department of Foreign Affairs said in an Update Philippines article published when the project was announced in Dec. 2016.

The investment in the project totalled €40 million, or about $43.4 million USD, the Update Philippines article noted.

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