Duisburg, November 8, 2017.
Xella International S.A. today announced the sale of its Fermacell business unit to James Hardie. Fermacell is the European market leader in the production and distribution of high-quality gypsum fiberboards and cement-bonded boards. The closing of the transaction is expected in the first quarter 2018.
“Fermacell is a strong company and has contributed significantly to the success of the Xella Group in recent years. After careful consideration, however, we came to the conclusion that its sale to James Hardie is the best solution for the further development of the Xella Group, as well as for the further growth of Fermacell itself,” says Xella Group CEO Dr. Jochen Fabritius.
Strategic M&A activities are an important part of the Xella Group’s growth strategy. Following the acquisition of the insulation materials company Ursa and the sale of the Fels business unit, the sale of Fermacell is Xella’s third major transformational transaction in 2017.
“These transactions are fundamental to further increasing Xella’s value by providing the foundation for further profitable and sustainable growth. Both Fermacell and Fels showed an excellent development as part of the Xella Group and will continue to tap their growth potential under their new respective ownerships,” adds Fabritius. “With our core business units Building Materials and the recently acquired insulation business Ursa we follow our mission of being a leader in the continuous improvement of the most critical components for energy efficient and sustainable housebuilding in Europe, accompanied by our strategic initiatives in the area of digitalization. The profitable and cash generating growth of our new group portfolio will also enable us to further invest in innovation and additional bolt-on acquisitions to complement our portfolio and regional leadership positions.”