Building materials company James Hardie
(ASX:JHX) has completed its acquisition of German company Fermacell from Xella International S.A..
The business says they welcomed the completion of the acquisition which will add over 800 new employees to the company in Europe.
The all cash consideration for the transaction was $473 million euros.
Fermacell is a fiber gypsum board maker which will provide James Hardie with a platform to accelerate its fiber cement business growth in Europe.
The company will include a European building products segment in its quarterly results.
Shares in James Hardie
(ASX:JHX) closed 1.09 per cent lower to $22.62 yesterday.
