Holcim acquires insulation materials company OX Engineered Products
Published: Tuesday, Oct 8th 2024, 07:40
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Holcim is expanding in North America. The Swiss building materials group acquires the US company OX Engineered Products with production sites in the Midwest and Southeast of the USA.
OX Engineered Products specializes in various products for insulating residential and commercial buildings, as Holcim announced on Tuesday. The company is expected to generate sales of an estimated 136 million US dollars in the current year with 210 employees. All employees will be taken over by Holcim.
OX Engineered Products counts the largest construction companies in the USA among its customers. According to Holcim, the acquisition should generate high synergies and increase Holcim's profits in the first year of the takeover. OX's technologies are intended to complement Holcim's existing offerings for the building envelope.
The transaction is still subject to the usual regulatory conditions, but is expected to be completed in the fourth quarter of 2024.
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