Holcim makes acquisition in bid for US expansion
Select your language
Generated with artificial intelligence.
Listening:
Holcim makes acquisition in bid for US expansion
Holcim is expanding in North America. The Swiss building materials group is acquiring the US company OX Engineered Products with production facilities in the Midwest and southeast regions of the US.
+ Get the most important Swiss news directly in your inbox
OX Engineered Products specialises in various products for the insulation of residential and commercial buildings, as Holcim announced on Tuesday. The company is expected to generate sales of an estimated $136 million in the current year with 210 employees. All employees will be taken over by Holcim.
+ New Holcim boss faces long road to decarbonisation
OX Engineered Products counts the largest construction companies in the US among its customers. According to Holcim, the acquisition should generate high synergies and increase Holcim’s profits in the first year of the takeover. OX’s technologies will complement Holcim’s existing building solutions.
The transaction is still subject to the usual regulatory conditions, but is expected to be completed in the fourth quarter of 2024.
Translated from German by DeepL/jdp
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
More
A Geneva-based global health foundation came close to ‘collapse’. Where were regulators?
More
Switzerland and France ‘have shaped each other profoundly’
More
Will Switzerland finally do away with imputed rental-value tax on homeowners?
More
The Brics and Switzerland: aspirations and reality
More
In Switzerland four out of ten people have a migrant background – who are they?
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.