The site should complement the cover activities of the Zug multinational in the land of Uncle Sam.
Construction materials giant Holcim announces the acquisition of a Maryland fiberglass plant from the Maryland Paper Group, for an undisclosed sum. The site should complement the cover activities of the Zug multinational in the land of Uncle Sam.
The roofing market on the other side of the Atlantic is estimated at 45 billion dollars and is following a rapid growth curve, underlines the press release issued on Tuesday. Holcim has set itself the goal of generating some 30% of its revenues by 2025 in the attractive segment of roofing, insulation and renovation, grouped within the Solutions and Products division.
The fiberglass panels must be integrated into the offer of the American companies Malarkey Roofing Products and Elevate – new company name of the specialist in flat roofs Firestone Building Products – both taken over in 2021 for respectively 1.35 billion and 3.4 billions of dollars.
The Maryland site is already the fourth acquisition announced by Holcim since the beginning of the year and the second in two days in the United States. In recent weeks, Holcim had also acquired the Italian Nicem and the French Chrono Chape.
Last year, in addition to several small takeovers, the group also obtained the green light from the authorities for the sale of several activities, in particular its Brazilian assets taken over by Companhia Siderúrgica Nacional (CSN) and its Indian subsidiaries Ambuja Cements and ACC sold to the Adani group for 6.4 billion francs.
At Vontobel, Bernd Pomrehn welcomes the rate of transformation of the German-speaking cement manufacturer into a more innovative and less polluting company that is still underestimated by many investors.
