Displaying items by tag: acquisition

Australia: France-based Saint-Gobain has submitted a non-binding indicative offer of US$5.44bn for building materials producer and land banking entity CSR. CSR’s businesses include insulation producer Bradford, fibre cement systems producer Cemintel, wallboard producer Gyprock, autoclaved aerated concrete (AAC) block producer Hebel and roofing producer Monier. Together, CSR’s building materials units accounted for 72% of its sales in 2023.

US: Martin Marietta Materials has signed a deal to buy 20 aggregates operations in the Southeast US from Blue Water Industries for US$2.05bn. Reuters has reported that the partners expect to close the deal later in 2024. Martin Marietta Materials says that the acquisitions will help it to meet rising national demand for building materials. The North Carolina-based group operates aggregates sites in 28 US states, Canada and the Bahamas.

Martin Marietta Materials previously indicated that recent divestitures in its ready-mix concrete business and other areas would help it to ‘redeploy the proceeds into pure-play aggregates acquisitions.’

US: CRH has completed its acquisition of a portfolio of ready-mix concrete and cement assets from Martin Marietta Materials for US$2.1bn. The portfolio includes a network of 20 ready-mix concrete plants in South Texas.

Chile: UNACEM has gained full ownership of precast concrete company Prefabricados Andinos. The group said that it completed the acquisition of the outstanding 50% stake in the company on 6 February 2024.

Spain: Switzerland-based Holcim has acquired a majority stake in precast concrete systems producer Arterpref. Holcim says that Artepref’s smart design systems combined with its own range of low-carbon and circular solutions will help Spain’s fast-growing construction sector to build better with less.

Holcim’s Europe regional head Miljan Gutovic said “Fully in line with our strategy, this expands our range of innovative and sustainable solutions in high-growth markets.”

UK: Holcim subsidiary Aggregate Industries has acquired mortars producer Eco-Readymix. Aggregate Industries that the acquisition will reinforce its position in the north west of England, and help to establish its place in the mortars market.

Aggregate Industries CEO Dragan Maksimovic said “This also marks our entry into the UK mortars market with a knowledgeable and ambitious management that has multiple synergies with our own. The acquisition supports our long-term strategy to continue to grow our business in order to become the UK’s leading supplier of sustainable construction materials and solutions.”

Ireland/UK: UK-based construction chemicals company Oscrete has raised its stake in its Northern Ireland-based distributor, Adcrete, to 90%. The group says that this will enlarge its customer base across Ireland in line with its 2024 strategic growth plan.

Director Scott Wilson said “The strengthened Oscrete business model and presence in Ireland will ensure the team has the infrastructure and the expertise to become the leading supplier of concrete admixtures and additives in the country.” He added “Our growth and turnover in Ireland has increased by 200% in the last four years and this growth serves to support the wider business operations.”

US: Ireland-based CRH has concluded a deal for the acquisition of Martin Marietta Materials’ South Texas business. This includes 20 ready-mix concrete batching plants, alongside the Hunter cement plant and a network of cement terminals on the Gulf of Mexico. The value of the transaction is US$2.1bn.

CRH CEO Albert Manifold said “The acquisition of these high-quality assets further strengthens our market leading position in Texas and increases our exposure to attractive, high-growth markets. Our ability to leverage our cement expertise and technical capabilities will enable us to enhance and optimise our existing footprint in Texas, resulting in significant synergies and self-supply opportunities. This transaction reflects our disciplined approach to capital allocation as well as our commitment to deliver further growth and value creation for our shareholders. We also believe there is significant potential to unlock additional growth opportunities across an expanded footprint in this attractive growth market.”

Romania: CRH subsidiary Romcim has acquired precast concrete producer Bauelemente from Michael Dietrich. Bauelemente operates plants at Aricestii Rahtivani in Prahova County, Bolintin in Ilfov County and Cristian in Sibiu County. The company will continue to operate under the new branding 'Bauelemente, a CRH company.' Romcim now controls six precast concrete plants, with 500 employees.

Romcim's building materials general manager Monica Tudor said "We are happy to welcome our new Bauelemente colleagues to Romcim and the CRH family."

Egypt: France-based Saint-Gobain has obtained outright ownership of mortars producer United Paints and Chemicals (Drymix). Saint-Gobain paid US$25m for the acquisition, according to Business News Africa. Drymix operates the 240,000t/yr ‘6th of October City’ mortar plant in Giza Governorate.

Saint-Gobain operates two other building materials plants in Egypt, in Alexandria and Monufia Governorates.