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Swiss cement manufacturing powerhouse Holcim announced on Monday its decision to acquire the German building and insulation company Xella for €1.85 billion ($2.2 billion).
This strategic takeover is part of Holcim’s ongoing effort to diversify its business beyond traditional cement production and into lighter building materials like roofing and cladding.
Holcim expects the deal to generate approximately €60 million in synergies three years after the acquisition is completed.
Xella, which employs 4,000 people and focuses on advanced walling systems across Europe, is projected to achieve a turnover of around €1 billion this year.
Holcim CEO Miljan Gutovic stated that the transaction is designed to expand the company’s “cross-selling and systems-selling opportunities” to its customer base.
Holcim reported net sales of $20 billion last year.
