Vulcan Materials has completed six acquisitions during the third quarter that will expand its presence in the United States, says an article on Yahoo Finance.
The most recent of these acquisitions include five aggregates facilities and associated downstream assets in Phoenix; Santa Fe and Albuquerque, N.M.; and an additional operation in Delaware.
These transactions followed Vulcan’s previous acquisitions of four aggregates facilities in the San Francisco Bay area. According to the article, through these acquisitions, the company has added more than 450 million tons of permitted aggregates reserves serving markets where these reserves are relatively scarce.
In addition to this, the transactions total to approximately $320 million of investments, says the article.
“We not only expect that these assets will generate attractive returns in their own right, but also that they will create significant synergies with our existing asset base.” says Tom Hill, president and CEO of Vulcan. “These acquisitions complement existing aggregates sources and distribution facilities in key growth markets in Arizona, California, Texas and Northern Virginia while also providing access to new markets in New Mexico.”
