VOLMA Corporation

Volma Corporation and Knauf are building a new plant for Belgips in Gatovo, Minsk region, to produce gypsum products and construction mixtures. Investment is about 60 million euros, with capacity of 30 million m² of plaster wallboards, 500,000 m² of slabs, and 120,000 tons of dry mortars per year. First products expected in October 2018.

Knauf is expected to become joint owner of Belgips, a gypsum wallboard producer in Belarus, by purchasing half of the company from Russia's Volma. The transaction is pending approval from competition bodies.

The Federal Antimonopoly Service of Russia approved Knauf GIPS LLC's purchase of a 50% stake in VOLMA Corporation, a major Russian producer of building and finishing materials.