James Hardie Industries will sell its European Fermacell business to Swiss building-materials company Holcim for $980 million. The move is part of James Hardie's strategy to focus on markets offering higher growth and returns.
Fermacell is a business that produces fiber gypsum board products, primarily for the European market. The sale is expected to allow James Hardie to reallocate capital towards its core businesses and strategic priorities.
Holcim, a global leader in building solutions, aims to integrate Fermacell into its existing European operations, potentially expanding its product portfolio and market reach in the region. The acquisition aligns with Holcim's strategy to strengthen its presence in sustainable building materials.