Building materials Holcim acquires insulation materials company OX Engineered Products

Holcim is expanding in North America. The Swiss building materials group is taking over the US company OX Engineered Products with production facilities in the Midwest and Southeast of the USA.

OX Engineered Products specializes in various products for the insulation of residential and commercial buildings, as Holcim announced on Tuesday. The company is expected to generate sales of an estimated 136 million US dollars this 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 will complement Holcim's existing building envelope offerings.

The transaction is still subject to customary regulatory conditions, but is expected to close in the fourth quarter of 2024.

SDA