Cement boards are used to protect against infections, and a major new company is getting in on the action with its acquisition of a cement-making company.
Gileads, the drugmaker that is also a maker of insulin and is seeking a vaccine for the hepatitis C virus, said Thursday that it would pay $1 billion for cement board maker Cement-Bartlett.
It will also acquire cement-maker Concrete, which has a plant in Georgia.
Gildan and Concrete both produce cement boards.
Concrete’s product lines include cushioning and flooring.
Cement Board’s chief executive, Dan Wren, said the company would create hundreds of jobs in Georgia and help expand its operations.
“This acquisition is a huge win for the state and the broader economy,” he said in a statement.
The acquisition will also add $1 million to the company’s annual operating budget, according to Wren. “
I’m proud to join a company that will support Georgia’s job creation, and I am looking forward to helping Georgia continue to lead the nation in cement board manufacturing.”
The acquisition will also add $1 million to the company’s annual operating budget, according to Wren.
The cement board business is a $1 trillion industry, and Wren has said cement board sales have surged more than 80 percent since the Ebola pandemic began in West Africa.