Lehigh Hanson company purchases Cemex subsidiary

By |  April 18, 2017

Pacific Northwest Materials, a Cemex subsidiary consisting of aggregate, asphalt and ready-mix concrete operations in Oregon and Washington, was sold to Cadman Materials Inc., a Lehigh Hanson company.

According to Cemex, the sale was for about $150 million. Cemex will use the proceeds from the transaction mainly to reduce debt and for general corporate purposes, the company says.

The transaction is subject to regulatory approvals, Cemex adds. The company expects the sale to be finalized in the second quarter this year or shortly after the second quarter.

Cemex is a global building materials company that provides products and services to customers and communities in more than 50 countries.

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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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