James Hardie Industries agreed to sell its European walling and flooring business, Fermacell, to Holcim for €840 million ($980 million) in cash. This transaction includes the Fermacell and Aestuver brands. The deal is expected to close in the first half of 2027, pending regulatory approvals.
The divestiture allows James Hardie to exit European operations and focus on higher-growth markets. The company will use approximately $600 million of the proceeds to repay debt. It also authorized a new $250 million share repurchase program.
Holcim expects the acquisition to expand its high-value building solutions portfolio in Europe. The transaction is projected to be accretive to earnings per share in the first year.