Irving, TX, Nov. 28, 2024 (GLOBE NEWSWIRE) -- Heidelberg Materials North America announced today that it has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries, Giant Cement Company, Dragon Products Company and Giant Resource Recovery, from the Fortaleza, Uniland and Trituradora groups. Included in the transaction are:
- Giant Cement Company assets in the Southeastern U.S., consisting of an integrated cement plant in Harleyville, South Carolina, a network of four cement distribution terminals in Georgia and South Carolina as well as a joint-venture deep-water import terminal in Savannah, Georgia.
- Dragon Products assets in New England, including a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston, Massachusetts.
- Giant Resource Recovery (GRR!), a hazardous and non-hazardous alternative fuel recycling business with four strategically located facilities in the Eastern U.S.
Purchase price for the transaction is approximately $600 million subject to ordinary post-closing adjustments. This transaction is expected to contribute around $60 million in EBITDA in the first year of operation before significant additional synergies.
“The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern U.S. and New England markets,” said Chris Ward, President and CEO of Heidelberg Materials North America. “We are excited to expand our supply network on the East Coast to better serve our broad customer base and we expect strong synergies with the Giant Resource Recovery fuel recycling business. We welcome the GCHI employees and customers to Heidelberg Materials and look forward to the opportunities and growth potential ahead.”
This latest acquisition by Heidelberg Materials reflects its continued focus on further strengthening its footprint in core markets, building a sustainable future and positioning the company as the front-runner on the path to carbon neutrality and a circular economy in the construction materials industry.
About Heidelberg Materials North America
Based in Irving, Texas, Heidelberg Materials North America is part of Heidelberg Materials, one of the world's largest integrated manufacturers of building materials and solutions. At the center of our actions lies our responsibility for the environment. We are pioneers on the road to carbon neutrality and circular construction. We’re developing new, sustainable building materials as well as intelligent digital solutions.
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Jeff Sieg Heidelberg Materials North America 9726536011 jeff.sieg@heidelbergmaterials.com
