HEIDELBERGCEMENT AG

HeidelbergCement sells its U.S. West region business for US$ 2.3 billion

As part of its portfolio optimization and margin improvement programme in its North American business, HeidelbergCement has signed an agreement to sell its business activities in the U.S. West region to the U.S. based company Martin Marietta Materials, Inc. The sale price is US$ 2.3 billion in cash.

“The sale of our U.S. West region activities is a major step in our portfolio optimization as part of our ‘Beyond 2020’ strategy,” said Dr Dominik von Achten, Chairman of the Managing Board of HeidelbergCement. “We are simplifying our portfolio in North America and prioritising on the strongest market positions. Our engagement for the North American market is stronger than ever.”

Chris Ward, President & CEO of Lehigh Hanson, Inc. reiterated HeidelbergCement’s high commitment for future growth in North America by saying: “We will accelerate the build-out of our positions in the four key regions Canada, Midwest, Northeast and South through selected bolt-on acquitisions and capacity expansion projects in the future.” The transaction comprises the sale of Lehigh Hanson’s business activities in cement, aggregates, ready-mixed concrete, and asphalt in the U.S. West region (California, Arizona, Oregon, and Nevada), except for the Permanente cement plant and quarry. The sale includes two cement production plants with related distribution terminals, 17 active aggregates sites, and several downstream operations.

Closing of the transaction is expected in the second half of 2021 pending regulatory approvals. Lehigh Hanson will maintain ownership and management of these assets until that time.

www.heidelbergcement.com

x

Related articles:

Issue 11/2018 HEIDELBERGCEMENT AG

HeidelbergCement to sell White Cement plant in Egypt

HeidelbergCement has announced that its subsidiary Helwan Cement has entered into an agreement with Emaar Industries to sell its White Cement plant in Minya/Egypt. The deal is valued at an EV/EBITDA...

more
Issue 4/2018 HEIDELBERGCEMENT AG

HeidelbergCement to sell stake in Lehigh White Cement Company in the USA

HeidelbergCement has announced that its subsidiary Lehigh Cement Company LLC has signed an agreement to sell its 51?% position in Lehigh White Cement Company to the minority shar­eholders Aalborg...

more
Issue 5/2019 HEIDELBERGCEMENT AG

HeidelbergCement makes further progress with portfolio optimisation

HeidelbergCement’s subsidiary Italcementi has signed contracts with Buzzi Unicem and Colacem about the disposals of cement plants in the northern and central region of Italy. The involved parties...

more

HeidelbergCement with excellent half-year results 2021

“HeidelbergCement has closed the first half of 2021 with an excellent result,” said Dr Dominik von Achten, Chairman of the Managing Board. “We have achieved record values in relevant key figures....

more
Issue 3/2018 HEIDELBERGCEMENT AG

HeidelbergCement to sell its calcium silicate unit business

In in the middle of December 2017 HeidelbergCement announced that it has signed an agreement with H+H International A/S and its subsidiary H+H Deutschland GmbH to sell its German and Swiss calcium...

more