Holcim makes acquisition in bid for US expansion
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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.
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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.
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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
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