Heidelberg Materials North America To Acquire Giant Cement Holding - Quick Facts

(RTTNews) - Heidelberg Materials North America has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. and its subsidiaries, Giant Cement Company, Dragon Products Company and Giant Resource Recovery, from the Fortaleza, Uniland and Trituradora groups. Purchase price for the transaction is approximately $600 million. Included in the transaction are: Giant Cement Company assets in the Southeastern U.S.; Dragon Products assets in New England; and Giant Resource Recovery fuel recycling business.

The company projects the transaction to contribute around $60 million in EBITDA in the first year of operation before significant additional synergies.