Mexico's Elementia, a cement maker partly owned by billionaire Carlos Slim, has announced that it has signed a letter of intent to purchase 55% of Giant Cement Holdings Inc.
In a statement, Elementia announced that Giant has operations in the east coast of the United States, including three cement plants, three limestone quarries and six terminals.
"The Giant acquisition will grant Elementia access to the third biggest cement market in the world," the company said.