HeidelbergCement has announced that its North American subsidiary, Lehigh Hanson, Inc., has entered into an agreement with Giant Cement, a subsidiary of Elementia S.A.B. de C.V., to acquire its Keystone cement plant in Bath, Pennsylvania/USA. The Keystone plant has been operating since 1928 and supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged Portland cements. The plant operates with a kiln line which was modernised in 2009 and has a capacity of 1.1 million t of cement per year. The agreed purchase price for the plant is US$ 151 million cash free and debt free which is the equivalent of about US$ 137 per ton of cement capacity.
The transaction is subject to antitrust regulatory approval and is expected to close in the coming months.