James Hardie to sell European Fermacell business to Holcim for €840 million
On August 20, 2026, James Hardie agreed to sell its European fiber gypsum and cement-bonded products business, including Fermacell, to a subsidiary of Holcim for €840 million, about $980 million. The company expects about $600 million of the proceeds to repay debt and has also authorized a $250 million share repurchase program. The sale is expected to close in the first half of 2027, and the company plans to wind down its European fiber cement operations, which are not included in the sale.
Key points
- Buyer is Holcim Westbeteiligungs GmbH, a subsidiary of Holcim Ltd., with Holcim Ltd. as guarantor; price is €840 million, subject to net debt and working capital adjustments
- About $600 million of proceeds is expected to repay debt, supporting a target of net leverage below 2.0x by September 30, 2027
- Board authorized a share repurchase program of up to $250 million; the company is not obligated to buy any shares
- Closing expected in the first half of calendar 2027, subject to antitrust approvals and employee consultations; the Purchaser may owe the Sellers a €15 million termination fee in certain circumstances
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 20, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.