Latest News


Keyword Search

CRH buys 50 pct stake in American Cement Co for 50 mln usd

Aug, 01 2006


 

(LONDON) - CRH PLC, the Irish-based building materials group, said its US unit Oldcastle Materials Inc has taken a 50 pct stake in American Cement Co LLC (ACC) for 50 mln usd in cash. CRH said the remainder of the company is held by the shareholders of Trap Rock Industries, a construction materials and contracting company in New Jersey. The group said ACC has been formed to develop and run a cement plant in central Florida with an annual capacity of 1.1 mln tonnes. The plant is due to start production in late 2008. 'The outlook for the Florida construction sector is excellent and, with up to 40 pct of total annual cement consumption in the state currently being imported, we believe there is real need for the local production capacity which ACC's new facility will add,' said Oldcastle chief executive Tom Hill.

Bookmark and Share
Comments
0 Comment(s)
Add Your Comments


Telit tracking for on-time concrete delivery

Road King Technologies, a fleet management and automation company focused on the ready mix concrete industry, is using Telit Wireless Solutions’ products for tracking and route optimization More

Rwanda: Cimerwa to up cement production By 500,000 tonnes

Rwanda's sole cement producer, Cimerwa, plans to increase its production capacity to 600,000 tonnes annually. More

Advertise Here