Holcim to acquire European roofs manufacturer FDT Flachdach Technologie

Logo of Swiss cement maker Holcim is seen in Zug, Switzerland
The logo of Swiss cement maker Holcim is seen at its headquarters in Zug, Switzerland October 26, 2022. REUTERS/Arnd Wiegmann/File Photo

ZURICH, Feb 16 (Reuters) - Switzerland's Holcim (HOLN.S) is to acquire thermoplastic roofs manufacturer FDT Flachdach Technologie GmbH, the world's biggest cement maker said on Thursday.

"By acquiring FDT we are further expanding our Solutions & Products business to become a global leader in roofing systems," Chief Executive Jan Jenisch said in a statement.

Holcim said the purchase, the latest in a string of recent acquisitions, will mean its roofing systems will exceed $4 billion in net sales ahead of schedule.

Headquartered in Germany, FDT is focused on European markets and had net sales of 50 million euros ($53.51 million) in 2022.

Holcim will purchase FDT from private equity company Mutares SE & Co (MUXG.DE), which is focused on company turnarounds.

The closing of the transaction is expected in the first quarter of 2023. The purchase price has not been disclosed.

($1 = 0.9345 euros)

Reporting by Noele Illien; Editing by Jacqueline Wong and Janane Venkatraman

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