Chemical maker Westlake expands into building products with Boral acquisitionBuildings
The firm is buying Boral’s building products businesses for $2.15 billion in cash.
In a move that complements product offerings from Canada’s Royal Building Products, Westlake Chemical Corp. is purchasing Boral Industries Inc.’s building products businesses for US$2.15 billion in cash.
Headquartered in Roswell, Ga., Boral Industries is a unit of Australian construction giant Boral Ltd.
The businesses to be acquired include roofing; siding, trim and shutters; decorative stone; and windows.
Boral’s North American building products businesses employ approximately 4,600 employees at 29 manufacturing sites in the U.S. and Mexico. Boral’s North American building products businesses generated revenues in excess of US$1 billion during the fiscal year ended June 30, 2020.
“This transaction will bring well-established and high-quality architectural solutions and premium product brands…to complement our existing businesses, including Royal Building Products’ siding, trim and molding, DaVinci composite roofing, NAPCO Pipe and Fittings, and specialty PVC compounding business,” Albert Chao, president and CEO of Houston-based Westlake, said in a June 20 news release. “The combination of Boral North America’s product lines with Westlake’s building products businesses will greatly expand our housing-related building products business and extend our presence in North America.”
Royal Building Products is headquartered in Woodbridge, Ont.
The deal is expected to close in the second half of 2021.