LafargeHolcim has signed an agreement to acquire Firestone Building Products (FSBP), a leader in commercial roofing and building envelope solutions based in the United States (US), with 2020 (est.) net sales of USD 1.8 billion and EBITDA of USD 270 million. This transaction is valued at USD 3.4 billion, to be financed with cash and debt while maintaining net debt below 2x. Jan Jenisch, LafargeHolcim CEO: "I am excited to be entering the highly attractive roofing business. With Firestone Building Products we are strengthening our biggest market, the US, while also building a global growth and innovation platform for the company. Today's milestone is a strategic leap on our journey to become the global leader in innovative and sustainable building solutions, to build a world that works for people and the planet. I have great respect for the high-caliber leadership and expertise of the Firestone Building Products' team and look forward to welcoming them into the LafargeHolcim family."
Paolo Ferrari, Bridgestone Americas President, CEO & COO: "This transaction will create new growth opportunities for Firestone Building Products and allow Bridgestone to focus its resources to further invest in the company's tire business and rapidly growing mobility solutions business. Like Bridgestone, LafargeHolcim is a global company with a strong financial position and thriving culture. We know they will take great care of our Firestone Building Products employees and customers, and ensure the business enjoys growth and success for many years to come."
Taylor Cole, Firestone Building Products President: "Today is a big moment for the Firestone Building Products team as we look forward to becoming part of the global leader in building materials and solutions. Together, we are in a prime position to accelerate our growth by combining Firestone Building Products' advanced technologies and know-how with LafargeHolcim's global scale and reach."
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