American-Irish building materials manufacturer James Hardie Industries plc has entered into an agreement with Swiss competitor Holcim to sell Fermacell's European flooring business for 840 million euros ($980 million). This is reported in the Holcim press release.
The sale of assets will allow James Hardie will focus on the most promising areas. In addition, the company intends to close its European fiber cement business after consulting with its employees. Goldman Sachs & Co. LLC is acting as an advisor to the deal.
The transaction is expected to be completed in the first half of 2027, subject to regulatory approvals. After closing the deal, James Hardie intends to allocate $600 million of the funds received to repay the debt and $250 million to repurchase shares.
James Hardie Industries plc is an American—Irish building materials company and the largest manufacturer of fiber cement products. The headquarters is located in Dublin (Ireland) with the main operating office in Chicago (Illinois).
Holcim is a multinational company producing construction and non—metallic materials. In 2015, the company merged with Lafarge to form a new company, LafargeHolcim, which was renamed Holcim Group in 2021. The headquarters is located in Zug (Switzerland).
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