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Cementir completes purchase of additional stake in Lehigh White Cement

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World Cement,


Cementir Holding has completed its purchase of an additional 38.75% stake in Lehigh White Cement Co. The acquisition brings its holding in the company to 63.25%. The remaining 36.75% is owned by CEMEX Inc.

Cementir is paying a total of US$106.6 million in cash for the 38.75% stake in a deal that sees Lehigh Cement Co., a subsidiary of HeidelbergCement AG, exit the business.

“This acquisition gives us the opportunity to directly manage assets in the US in our core white cement business, reinforcing our global leadership and supporting our growth strategy,” said Francesco Caltagirone, Chairmand and CEO of Cementir Holding, at the time the deal was announced.

Lehigh White Cement operated two white cement plants: one in Waco, Texas, and the other in York, Pennsylvania, with a production capacity of 0.255 million tpy.

Read the article online at: https://www.worldcement.com/the-americas/03042018/cementir-completes-purchase-of-additional-stake-in-lehigh-white-cement/

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This article has been tagged under the following:

Heidelberg Cement news Cement news 2018