Construction materials giant LafargeHolcim strengthens its position in roofing products with the acquisition of Firestone Building Products (FSBP), a subsidiary of Japanese group Bridgestone Corporation for $ 3.4 billion (2.7 billion euros), has he announced Thursday.
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The group resulting from the merger in 2015 of the French Lafarge with the Swiss Holcim has signed an agreement to take over this division of Bridgestone Americas, which belongs to the Japanese group Bridgestone, one of the giants of tire manufacturing, he said in a statement.
Based in Nashville, Tennessee, this subsidiary, which employs 1,900 people, manufactures roofing and waterproofing products with 2020 sales of $ 1.8 billion.
This acquisition should allow LafargeHolcim to strengthen its position in the United States, where it hopes to increase its sales to $ 6 billion thanks to this acquisition.
The group intends to extend the presence of Firestone Building Products, which has a strong presence in the United States, to broaden its geographic base, in Europe and Latin America.
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This buyout will be financed both in cash and by loans.
The group expects $ 110 million in synergies per year in the two years following the closing of the operation, which should take place during the second quarter, he said.
