Holcim to acquire European roofs manufacturer FDT Flachdach Technologie
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ZURICH (Reuters) – Switzerland’s Holcim is to acquire thermoplastic roofs manufacturer FDT Flachdach Technologie GmbH, the world’s biggest cement maker said on Thursday.
“By acquiring FDT we are further expanding our Solutions & Products business to become a global leader in roofing systems,” Chief Executive Jan Jenisch said in a statement.
Holcim said the purchase, the latest in a string of recent acquisitions, will mean its roofing systems will exceed $4 billion in net sales ahead of schedule.
Headquartered in Germany, FDT is focused on European markets and had net sales of 50 million euros ($53.51 million) in 2022.
Holcim will purchase FDT from private equity company Mutares SE & Co, which is focused on company turnarounds.
The closing of the transaction is expected in the first quarter of 2023. The purchase price has not been disclosed.
($1 = 0.9345 euros)
(Reporting by Noele Illien; Editing by Jacqueline Wong and Janane Venkatraman)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
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