Company aims to tap rising demand for solar and cool
roofing Half of the price can be paid from existing cash - CEO CEO s former company Sika becomes a rival following
acquisition
ZURICH, Jan 7 (Reuters) - LafargeHolcim, the world s
biggest cement maker, on Thursday announced a $3.4 billion deal
to buy Firestone Building Products from Japan s Bridgestone
Corporation in its biggest acquisition in more than a
decade.
The purchase of the roofing products business is the biggest
under CEO Jan Jenisch, who since taking over in 2017 has
focussed on paying down debts, quitting less profitable markets
and smaller bolt-on deals.
It will help LafargeHolcim tap increasing demand for roofs
Cemented: Firestone Building unit sold to LafargeHolcim in multi-billion-dollar deal
LafargeHolcim has snapped up commercial roofing leader Firestone Building Products in a hefty $3.4bn (£2.5bn) deal.
The Swiss cement giant will acquire Firestone from Bridgestone Americas in a “milestone” for sustainable building materials solutions.
With the US as LafargeHolcim’s largest market, the deal can bolster annual sales to exceed $6bn.
LafargeHolcim boss Jan Jenisch said, “With Firestone Building Products we are strengthening our biggest market, the US, while also building a global growth and innovation platform for the company.
The deal forms part of a plan to expand business into Europe and Latin America, to push towards becoming a global leader in the roofing market. It will also allow Bridgestone to strengthen its tire and mobility solutions businesses.
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LafargeHolcim, the world's biggest cement maker, has today announced a $3.4 billion deal to buy Firestone Building Products from Japan's Bridgestone Corporation in its biggest acquisition in more than a decade.