Report: Boral Buys Headwaters for $1.8 Billion

November 20, 2016 LBM Journal

BoralBloomberg is reporting Boral Ltd. of Australia has purchased Headwaters, a U.S. building materials company for $1.8 billion in cash.

According to Bloomberg’s report, Headwaters’s businesses are “highly complementary with Boral’s existing U.S. operations – in fly ash, roofing, stone and light building products,” CEO Mike Kane said in the statement. The deal is expected to deliver savings of $100 million a year within four years, he said.

Bloomberg said the deal seeks to benefit from an increased infrastructure spending promised by President-elect Donald Trump, who has pledged a $1 trillion program to rebuild highways, tunnels, bridges and airports.

Read the full story at Bloomberg.

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