LafargeHolcim is to acquire Firestone Building Products, a US-based provider of commercial roofing and building envelope solutions, as part of a £3.4 billion deal.
LafargeHolcim CEO Jan Jenisch says: “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.”
LafargeHolcim says Firestone’s cool roofs, insulation and waterproofing systems help mitigate a process in which 60% of buildings’ energy is lost through roofs. Firestone’s green roofs contribute to more sustainable urban environments, the company adds.
These technologies are expected to complement LafargeHolcim’s sustainable building solutions, such as EcoPact concrete and its EcoLabel range.
As part of the deal, LafargeHolcim is to add 15 manufacturing facilities, 1,800 distribution points and three R&D laboratories to its network.
Upon completion of the sale, Firestone will continue to be headquartered in Nashville, Tennessee, while all 1,900 staff will transition to LafargeHolcim.
Founded in 1980, Firestone is a business unit of Bridgestone Americas and part of Tokyo-based Bridgestone Corporation, a global provider of tyres and sustainable mobility solutions.
Bridgestone Americas president Paolo Ferrari says: “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.”
Taylor Cole Firestone president, says:”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.”
