Holcim acquires James Hardie’s European unit for €840 million - Bloomberg

Holcim Ltd. is acquiring a portion of James Hardie Industries Plc’s European business for a sum of approximately €840 million ($981 million), as revealed in a company announcement. According to Bloomberg, the acquisition is part of James Hardie's strategy to focus on growth markets in the U.S. and Australia, and to exit the European market.

The fiber cement business, which resembles wood and is used for exterior siding and wall panels, is being closed by James Hardie. Holcim's acquisition will bolster its building, sustainable flooring, and walling solution offerings, according to the sources. This move signifies Holcim's expansion into European building materials, as James Hardie narrows its focus to North American and Australian operations.

Following the acquisition, James Hardie Industries PLC ADRs experienced a 1% increase in after-hours trading.