Texas Industries (TXI) has acquired ready mix and aggregate operations of Cemex USA that serve the Austin metropolitan market. The transaction was finalised on 29 July. This acquisition expands TXI's operations by three ready mix concrete plants and one aggregate plant.
This investment allows TXI to further supplement the company's growing resources in this region, including the recently-completed acquisition of the Central Texas Ready Mix division and expansion of the Hunter Cement plant, which is currently underway. It also augments TXI's Austin aggregate operations.
"This transaction further enhances our vertical integration strategy," stated Jamie Rogers, Vice President and COO for TXI. "We believe the Austin market will experience strong growth over the long-term, and we are excited about expanding our leadership position in this region," he added.
As a part of the transaction, TXI transferred to Cemex USA existing ready mix operations in the Houston marketplace. TXI continues to operate cement and aggregate terminal operations along with packaged materials facilities in the Houston marketplace.
"While times remain challenging, we will continue to investigate opportunities that enhance the company's long-term strategic position," said Mel Brekhus, President and CEO of TXI.