Heidelberg Materials North America in definitive purchase agreement to acquire Canadian aggregates business
HEIDELBERG Materials have entered into a definitive purchase agreement to acquire Green Drop Rock Products in Cochrane, Alberta, Canada, an independent producer of aggregates with a high-capacity plant that is well positioned to supply the Calgary market.
The acquisition of the Green Drop Rock Products business will further strengthen Heidelberg Materials’ offering of sustainable aggregates product applications, as well as their reserves in the Greater Calgary area, reinforcing the company’s integrated footprint in an attractive market.
The assets of Green Drop Rock Products complement Heidelberg Materials’ existing operations in this growing part of Alberta, the province also being home to Heidelberg Materials’ Edmonton plant, where the cement industry’s first global full-scale carbon capture and storage (CCS) facility is being built. This new facility is scheduled to be operational by late 2026 and will capture more than 1 million tonnes of CO2 annually.
The Green Drop Rock Products acquisition, which is expected to close in early September 2023, is part of Heidelberg Materials’ ongoing portfolio optimization focusing on the most promising and strongest market positions.