Westlake Chemical Corporation announced that it completed the acquisition of Boral Limited’s North American building products businesses in roofing; siding, trim and shutters; decorative stone; and windows for $2.15 billion in an all-cash transaction.
“This transaction effectively doubles the size of our portfolio in the high-growth North American building products segment,” Westlake President and CEO Albert Chao said. “The North American building products segment, based on market analysis for new construction and remodel and repair, is expected to grow by approximately 15% during the next three years, and Boral’s high-quality architectural solutions and premium products will help us extend our leading position in the North America building products segment.”
Boral’s North American building products businesses employ approximately 4,600 employees at 29 manufacturing sites in the United States and Mexico.
Boral’s North American building products businesses generated revenues in excess of $1 billion during the fiscal year ended June 30, 2020.
“With this acquisition, we have significantly increased scale, added product and geographical diversity, improved our sustainable products positioning, and enhanced our growth prospects," Chao said. "We expect the deal to be accretive to earnings in the first full year of combined operations.”