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20.08.26 - 22:36
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James Hardie Announces Strategic Divestiture of European Operations, Including Sale of Fermacell to Holcim for €840 Million (Business Wire)
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Transaction expected to accelerate deleveraging, support return of capital to shareholders, and be accretive to margin profile and ROIC
Separately, the Company also intends to close European fiber cement business to enhance focus on core growth regions
Actions further align portfolio with Company's long-term growth strategy
James Hardie Board authorizes $250 million share repurchase programCHICAGO--(BUSINESS WIRE)--James Hardie Industries plc (NYSE / ASX: JHX) (“James Hardie” or the “Company”), a leading provider of exterior home and outdoor living solutions, today announced a strategic divestiture of its European operations to further align the Company's portfolio with its long-term growth strategy. The Company has entered into an agreement to sell its sustainable walling and flooring solutions business Fermacell in Europe, including the fermacell® and Aestuver® brands, to Holcim (SIX: HOLN), a global provider of high-value end-to-end building materials and solutions based in Switzerland, for...
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