Insulation industry news from Global Insulation

US: LafargeHolcim has signed an agreement to buy Firestone Building Products from Bridgestone Americas for US$3.4bn. The company said that the new subsidiary recorded estimated net sales of US$1.8bn and earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$270m. The group will finance the deal through cash and debt. It said that the acquisition is a milestone in its transformation to become the ‘global leader in innovative and sustainable building solutions.’

Chief Executive Officer Jan Jenisch said, “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-calibre leadership and expertise of the Firestone Building Products’ team and look forward to welcoming them into the LafargeHolcim family.”

US: Switzerland-based LafargeHolcim has said that it is in talks with Bridgestone about its possible acquisition of the latter’s energy-saving roofing systems specialist subsidiary Firestone Building Products. Bloomberg News has reported that talks are in their advanced stages and may conclude before 9 January 2020.