German Company Buys U.S. Gypsum for $7 Billion

Chicago-based U.S. Gypsum, which closed its Stony Point plant eight years ago, has reportedly been purchased by a German company. Bloomberg.com reported the $7 billion acquisition by Knauf KG, helped Warren Buffett get out of an 18-year investment that suffered through bankruptcy and a bailout, a rare loss for the investing legend, which he called a disappointment. Town supervisor Jim Monaghan told “The Morning Show” last week it appears the company will continue its operations in Chicago…

Audio: Jim Monaghan

The acquisition of U.S. Gypsum comes with the well-known Sheetrock brand and gives Knauf access to the U.S. construction market. Founded in 1932, Knauf has become one of the world’s largest producers of insulation and drylining systems.

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