Displaying items by tag: Bluegrass Materials

US: Martin Marietta Materials has completed its US$2.3bn takeover of Lehigh Hanson’s West Region business. The acquisition enlarges the company’s cement assets by two new plants and related distribution terminals, as well as targeted downstream operations, in California and Arizona.

Chair, president and CEO Ward Nye said "We are pleased to complete the Lehigh West Region acquisition and welcome a talented group of new employees to the Martin Marietta team. These assets serve as a new growth platform for our continued geographic expansion and are uniquely positioned to benefit from favourable market dynamics and accelerating public and private construction activity in California and Arizona.” He added “We are confident in our ability to quickly realise the benefits of this transaction and deliver significant value creation for our shareholders, customers and employees following the same proven approach we took with our acquisitions of TXI and Bluegrass."

US: Lafarge has announced the sale of five aggregates quarries and related assets in Maryland to Bluegrass Materials for a total enterprise value of US$320m, subject to relevant regulatory approvals.

With these divestments, Lafarge has largely completed its strategy of refocusing on its core markets in the US. The company now operates a strong network of integrated positions mainly located in the Great Lakes and Mississippi River regions. These include nine cement or grinding plants and associated cement terminals with a combined capacity of 11Mt/yr, as well as related aggregates and concrete businesses in these markets.