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LafargeHolcim Successfully Closes Firestone Building Products Acquisition
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LafargeHolcim Successfully Closes Firestone Building Products Acquisition
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LafargeHolcim to acquire Firestone Building Products Written by Global Cement staff
12 January 2021
US: LafargeHolcim has signed an agreement to buy Firestone Building Products from Bridgestone Americas for US$3.4bn. The company said that the new subsidiary recorded estimated net sales of US$1.8bn and earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$270m. The group will finance the deal through cash and debt. It said that the acquisition is a milestone in its transformation to become the ‘global leader in innovative and sustainable building solutions.’
Chief Executive Officer Jan Jenisch said, “I am excited to be entering the highly attractive roofing business. With Firestone Building Products we are strengthening our biggest market, the US, while also building a global growth and innovation platform for the company. Today’s milestone is a strategic leap on our journey to become the glo
Bridgestone selling Firestone Building Products business to Switzerland-based LafargeHolcim
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Buyer will keep HQ here, plans other deals
Bridgestone Americas executives have agreed to sell their building products division, which employs 1,900 people and last year rang up about $1.8 billion in sales, to a fellow global conglomerate for $3.4 billion.
Switzerland-based LafargeHolcim, which employs 70,000 people around the world, will fund its deal for Firestone Building Products with cash and debt and plans to close on the transaction in the second quarter, according to a release. Firestone Building Products last year produced EBITDA of $270 million and runs 15 factories that make cool roofs, insulation and waterproofing systems, among other things. Its goods are distributed through 1,800 sites, and the business also runs three research and development centers.