Boral wraps up Headwaters acquisition

Boral Limited has completed its acquisition of Headwaters Incorporated, previously announced in November.

Headwaters is a building products manufacturer and fly ash marketer in North America.

Effective Monday, May 8 in the United States, Headwaters is now a wholly owned subsidiary of Boral Limited, and no longer a publicly traded company.

The combined entities will form a new division, Boral North America, to be headquartered in Atlanta, Georgia -- where Boral's current US headquarters is located. Boral North America is currently a $1.8 billion revenue business.

"To ensure that we seamlessly realise the benefits of this strategic acquisition for all of our stakeholders, teams from Boral and Headwaters are coming together to implement integration plans that leverage the talents and expertise of both companies,” said Boral’s CEO & Managing Director, Mike Kane.

“I would like to recognise the hard work undertaken over the past year or so by so many people from both Boral and Headwaters and our advisers," he added. "Reaching this significant milestone demonstrates the commitment and belief we all have in this value-creating merger of two great businesses. We are ready and well-positioned to deliver on our promises.”