LafargeHolcim to Buy Bridgestone Unit in $3.4 Billion U.S. P

LafargeHolcim to Buy Bridgestone Unit in $3.4 Billion U.S. Push


LafargeHolcim Emerges From Messy Merger With U.S. Deal
Bloomberg
1/7/2021
Leonard Kehnscherper
(Bloomberg) -- ​​​​​LafargeHolcim Ltd. is buying Bridgestone Corp.’s Firestone Building Products unit for $3.4 billion as the cement behemoth turns the page on years of restructuring that followed its creation in 2015.
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The transaction will expand LafargeHolcim into the roofing business in the U.S., its largest market, Chief Executive Officer Jan Jenisch said in a statement Thursday. The company also aims to broaden the asset’s reach to Europe and Latin America.
Jenisch, hired in 2017 to clean up the botched Swiss-French merger of Holcim Ltd. and Lafarge SA, had to slash costs and sell assets in Southeast Asia to salvage the transaction. The ex-CEO of chemical and roofing-membrane maker Sika AG is now returning to his earlier stomping ground and pitting LafargeHolcim against his former employer in some markets.

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