sur LAFARGEHOLCIM LTD (EPA:LHN)
Holcim to Acquire OX Engineered Products
Holcim has announced its agreement to acquire OX Engineered Products, a U.S. leader in advanced insulation systems. With projected 2024 net sales of USD 136 million, the acquisition is set to be EPS accretive from the first year and will enhance Holcim's offerings in building envelope solutions for residential and commercial uses.
OX Engineered Products is renowned for its innovative insulation solutions and has manufacturing bases in the Midwest and Southeast U.S. The company's high-quality products are favored by major national homebuilders. Holcim CEO Miljan Gutovic highlighted the strategic fit of OX's technologies, welcoming the integration of OX's 210 employees.
This move aligns with Holcim's focus on expanding its Solutions & Products segment into sectors like roofing and insulation. The transaction, subject to customary conditions and regulatory clearance, is anticipated to conclude in Q4 2024.
R. H.
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