Holcim Ltd. is acquiring part of the European business of James Hardie Industries Plc for just under €840 million ($981 million), according to people familiar with the matter. The deal, reported by Bloomberg Markets, represents a significant expansion of Holcim's presence in the European construction materials market.

The acquisition is part of Holcim's broader strategy to strengthen its position in key markets while divesting non-core assets. James Hardie, an Australian-American building materials company, has been focusing on streamlining its operations and exiting certain international markets to concentrate on its core businesses.

Industry analysts note that the transaction reflects ongoing consolidation in the global construction materials sector. The acquired assets include manufacturing facilities and distribution networks across several European countries, which will enhance Holcim's product portfolio and customer reach in the region.

The deal is expected to close by the end of the year, subject to regulatory approvals and customary closing conditions. Neither company has officially commented on the reported acquisition.