Holcim acquires remaining interest in Lattimore Materials
| January 31, 2011 |
Holcim Participations (US), a wholly-owned subsidiary of Holcim Ltd, has entered into a nonbinding letter of intent to acquire the remaining interest in Lattimore Materials Company, a Texas-based aggregates and ready-mix concrete producer, Holcim (US) Inc.
Holcim is currently a 49 percent limited partner of Lattimore Materials Company and will acquire the remaining 51 percent general and limited partnership interests.
The transaction, which recently received clearance from the Federal Trade Commission and the U.S. Department of Justice pursuant to the Hart-Scott-Rodino Antitrust Improvements Act, remains subject to a definitive purchase agreement and satisfaction of other customary closing conditions.
“The acquisition of the remaining 51 percent of Lattimore Materials Company is an important growth opportunity for the Holcim Group in North America,” said Bernard Terver, Holcim Ltd. United States area manager, in a written statement. “We are very happy to broaden our business in Texas after successfully partnering with Lattimore and their team over the past three years. Lattimore is one of the premiere aggregates and ready-mix concrete companies in Texas, a state where we have many valued customers.”
Holcim Participations (US) Inc. is a wholly-owned subsidiary of Holcim Ltd. of Switzerland, and parent to Holcim (US) and Aggregate Industries (US), Holcim’s aggregates, ready-mix concrete, and asphalt operating entity in the United States.
Holcim (US) Inc. is a subsidiary of Holcim Ltd., and a manufacturer and supplier of cement and mineral components. Holcim (US) has about 2,000 employees and operates 13 manufacturing plants and 70 distribution facilities in the United States.
Aggregate Industries (US) is a subsidiary of Holcim Ltd., supplying aggregate-based materials and contracting services. Aggregate Industries (US) has about 3,000 employees and operates in 16 states and 300 cities across the United States.
Lattimore Materials Company is a family-owned and operated entity that operates seven aggregate mines, 26 ready mix sites with 35 concrete plants, four rail terminals and a fleet of more than 400 mixer and haul trucks.