James Hardie Industries NV, an Australian turned Dutch maker of building products, is shifting its headquarters to the U.S. where it’s operations are run from Mission Viejo, according to a report in The Australian newspaper.
The company, with yearly sales of $1.5 billion, plans to “liquidate” its Dutch parent company and effectively become an American company, according to the report.
Some operations might stay in Europe for tax reasons.
In 2004, James Hardie moved to the Netherlands from Australia, where some believe it relocated to avoid paying multimillion-dollar compensation claims in Australia over asbestos.
The plan could include a provision to sell off James Hardie’s Australian and New Zealand operations.
A formal switch to the U.S. would make Mission Viejo the company’s headquarters. Most of the company’s executives now are in Orange County. The move could be completed in the second half of the year.
About 80% of James Hardie’s business is in the U.S. The company has about 200 workers in OC and another 200 or so in Fontana.
James Hardie makes cellulose-reinforced fiber cement and concrete used in walls, roofs and other parts of homes and commercial buildings.
