James Hardie completes acquistion of Fermacell

Company News

by Anna Napoli

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. 

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.