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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.
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)
An acquisition is a corporate action in which one company purchases another company to gain control over its assets and operations. This can help the acquiring company expand its market presence and product offerings.
Roofing systems refer to the various materials and methods used to cover and protect a building's roof. These systems can include asphalt shingles, metal roofing, and thermoplastic membranes, among others.
Net sales represent the total revenue from goods sold or services provided, minus returns, allowances, and discounts. It is a key indicator of a company's revenue generation capabilities.
Private equity refers to investment funds that buy and restructure private companies or invest in public companies to take them private. These funds aim to improve the financial performance of the companies before selling them for a profit.
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