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Lafarge sells two quarries as part of deal with Eagle Materials

By |  October 2, 2012

Eagle Materials Inc. has agreed to purchase Lafarge North America‘s cement plants in Sugar Creek, Mo., and Tulsa, Okla., as well as other assets that include two quarries, six distribution terminals, eight ready-mix concrete plants and a fly ash business.

Eagle Materials made the purchase for $446 million, and the transaction is expected to close by the end of this year. The company expects the acquisition to increase its U.S. cement capacity by about 60 percent.

“Our stated strategy has been to grow the cement and aggregates side of our business,” says Steven Rowley, Eagle Materials president and CEO. “Our first priority has been to acquire cement plants that connect but do not overlap with the market reach of our existing plants.”

Rowley adds that the transaction further positions his company near energy growth markets where there is growing demand for Eagle Materials’ northern white frac sand.

Kevin Yanik

About the Author:

Kevin Yanik is editor-in-chief of Pit & Quarry. He can be reached at 216-706-3724 or kyanik@northcoastmedia.net.

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