HeidelbergCement strengthen North American footprint
Saturday, September 28, 2019 - 07:00
Company reaches agreement over US$151 million acquisition of Keystone cement plant in Pennsylvania
LEHIGH Hanson Inc., the North American subsidiary of HeidelbergCement, have entered into an agreement with Giant Cement, a subsidiary of Elementia S.A.B. de C.V., to acquire their Keystone cement plant in Bath, Pennsylvania, in the US.
The cement plant started operations in 1928 and supplies bulk and bagged Portland cement to the Pennsylvania, New Jersey and New York markets. The cement works has an annual production capacity of around 1.1 million tonnes and operates with a kiln line that was upgraded in 2009.
‘With its modernized kiln, healthy customer base and large limestone reserves, the Keystone cement plant is an excellent strategic fit for HeidelbergCement in North America and an important step in strengthening our cement footprint in this key market,’ said Dr Bernd Scheifele, chairman of the managing board of HeidelbergCement.
‘The acquisition of one of the most modern and environmentally sustainable cement facilities in the US will further help Lehigh Hanson reduce its carbon footprint by safely substituting alternative fuels for traditional fossil fuels, such as coal. In addition, we anticipate a number of operational efficiencies as a result of this transaction.’
The acquisition, which is subject to anti-trust regulatory approval, is expected to be completed in the coming months.