Westlake Chemical To Buy Boral's North American Building Products Businesses For $2.15 Bln

(RTTNews) - Westlake Chemical Corp. (WLK) agreed to acquire Boral's (BLD.AX) North American building products businesses in roofing; siding, trim and shutters; decorative stone; and windows for $2.15 billion in an all-cash transaction.

The proposed transaction is expected to close in the second half of 2021.

Westlake expects the proposed transaction to be accretive to its earnings in the first full year of combined operations and expects cost synergies of about $35 million per year.

Boral's North American building products businesses employ about 4,600 employees at 29 manufacturing sites in the United States and Mexico.

Boral's North American building products businesses generated revenues in excess of $1 billion during the fiscal year ended June 30, 2020.