Eagle Materials entered into an agreement to purchase Cemex’s cement plant in Fairborn, Ohio, as well as related assets, including a distribution terminal in Columbus, Ohio, and a cement bagging operation.
The cement plant has the capacity to grind nearly 1 million tons of clinker each year, Eagle Materials says.
The purchase price of the transaction is $400 million, and the transaction is expected to close in the fourth quarter of 2016 or shortly thereafter, the company adds. Eagle Materials reports the acquisition will increase its U.S. cement capacity by about 20 percent.
“Our strategy has been to grow the cement side of our business,” says Dave Powers, Eagle Materials president and CEO. “The Fairborn plant extends our U.S. cement system and connects but does not overlap with the market reach of our existing plants. This high-quality cement plant is a compelling fit with our strategic objectives and our criteria for new investment. These assets will allow us to participate more fully in the U.S. construction industry and further positions the company in target U.S. heartland growth markets.”
