JONA (dpa-AFX) - Holcim Group or LafargeHolcim (HCMLY.PK, HCMLF.PK), a Swiss-French maker of building materials, said on Tuesday that it has signed a deal to buy Duro-Last, an American provider of commercial roofing systems, for $1.293 billion.
Holcim expects the acquisition to add to its earnings from the first year of completion of the deal.
With pro forma sales of $540 million, Duro-Last will complement and boost Holcim's roofing products and services, with expected synergies of $60 million a year.
Jan Jenisch, CEO of Holcim, said: 'Duro-Last is a perfect strategic fit for our roofing business. Its proprietary technologies and leading brands complement our offering in the fast-growing North American market. Its energy-efficient systems and excellence in recycling will further advance our leadership in sustainability. I am excited to .welcome all 840 employees to the Holcim family.'
The transaction, scheduled to be closed by second quarter, is expected to help Holcim roofing systems to exceed sales of $4 billion ahead of its schedule.
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