James Hardie Selling European Fermacell Business for $980 Million to Holcim
By Anvee Bhutani
James Hardie Industries will sell its European Fermacell business to Swiss building-materials company Holcim as it seeks to focus on higher-growth and higher-return markets.
The provider of exterior home and outdoor living solutions will receive EUR840 million in cash, or about $980 million, from the sale, the company said Thursday. The transaction is expected to close in the first half of next year.
The company also said it intends to close its European fiber cement business, subject to legal, regulatory and employee consultation requirements.
James Hardie said the divestiture is expected to strengthen its balance sheet, accelerate deleveraging and improve its margin profile and return on invested capital.
The company expects to use about $600 million of the proceeds to repay debt, helping it reach its target of reducing net leverage below 2.0 times by Sept. 30, 2027. Its board also authorized a new $250 million share repurchase program.
Following the deal, Fermacell, including the fermacell and Aestuver brands, will continue to be led by Christian Claus, CEO of Fermacell and President of James Hardie Europe.
Write to Anvee Bhutani at anvee.bhutani@wsj.com
(END) Dow Jones Newswires
August 20, 2026 17:17 ET (21:17 GMT)
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