Swiss cement manufacturing powerhouse Holcim announced on Monday its decision to acquire the German building and insulation company Xella for 1.85 billion 2.2 billion.
This strategic takeover is part of Holcims ongoing effort to diversify its business beyond traditional cement production and into lighter building materials like roofing and cladding.
Holcim expects the deal to generate approximately 60 million in synergies three years after the acquisition is completed.