Boral nails US buyout

BUILDING materials group Boral has completed its $3.5 billion buyout of US group Headwaters.

Boral USA and Headwaters will join forces in a new division called Boral North America based at Boral’s existing US headquarters in Atlanta.

America’s Federal Trade Commission approved the $US2.6 billion ($3.5 billion) deal last week.

The new unit will have annual revenue of $US1.8 billion.

Boral chief Mike Kane said the acquisition was transformative, positioning the company for more sustainable growth through market cycles.

“Reaching this significant milestone demonstrates the commitment and belief we all have in this value-creating merger of two great businesses,” Mr Kane said in a statement yesterday.