Report measures fiber cement market gains at vinyl siding expense

Source: The Freedonia Group, Cleveland

Fiber cement siding demand is forecast to grow 3.3 percent per year, to 2.1 billion square feet by 2022, and support sales volume that continues to outperform that of most other siding products. Led by Elementia, James Hardie and Nichiha, the market for fiber cement siding and companion building products will reach $1.6 billion in 2022, reflecting price increases and a shift to higher value offerings. These and other trends are presented in “Fiber Cement in the US, 3rd Edition,” a new study from market researcher Freedonia Group.

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Mexico’s Elementia closes on Dragon, Keystone parent

Sources: Elementia S.A.B. de C.V., Mexico City; CP staff

The Elementia board of directors approved a multi-step transaction with Spain’s Cementos Portland Valderrivas S.A., yielding a U.S. cement market stake through Giant Cement Holding Inc. The deal saw a) Elementia pay $220 million for a 55 percent stake and full control of the business; b) Elementia grant Giant Cement a $305 million loan through committed credit lines; and, c) Giant Cement utilize the $525 million infusion to retire 100 percent of its debt.

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Giant Cement deal brings sixth Latin America market player to U.S.

Sources: Elementia S.A.B. de C.V., Mexico City; CP staff

Elementia is set for an early-November closing on a 55 percent stake in Giant Cement Holding Inc. through a deal with Madrid-based Cementos Portland Valderrivas, S.A. Giant Cement spans namesake, Dragon Products Co. and Keystone brands, respectively, across South Carolina, Maine and Pennsylvania cement plants, totaling 2.8 million tons/year capacity; six terminals serving New England, New York, Virginia and the Carolinas; three limestone and two sand & gravel operations; and, four waste handling and processing sites.

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