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


Michael Cote is new chair of asphalt association

National Asphalt Pavement Association promotes Michael Cote to position during association’s annual meeting in Marco Island, Florida. More

Carolina Quarries gets OK for expansion

Carolina Quarries, Salisbury, North Carolina, Monday moved one step closer to expanding the size of land used to dispose of leftover rock at the company’s site near Rockwell, NC. More

Advertise Here