Xella International completed the sale of its Fermacell business unit to Irish James Hardie Industries that is listed on the Australian stock exchange, on 3 April. Fermacell specialises in making gypsum and cement-bound dry construction board and fire protection panels.
The deal closed slightly later than originally planned. The company had envisaged the deal closing during the first quarter when the transaction was announced at the start of November 2017. Towards the end of March, James Hardie then said that it hoped that the deal would close in early April. As originally announced, James Hardie spent €473m in cash on the parent company XI (DL) Holdings, which owns both Fermacell and other businesses.