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


Kenya's National Cement Company gets $70m to expand

International Finance Corporation, a member of the World Bank Group, is providing up to $70 million to Kenya's National Cement Company to increase the local supply of cement and promote infrastructure development in Africa More

Poor maintenance led to fatality at Kosmos Cement

Poor maintenance of a lift door led to a fatal accident at Kosmos Cement Co, a surface cement facility, owned and operated by Cemex, located in Louisville, Jefferson County, Kentucky More

Advertise Here