Despite recessionary times, the big keep getting bigger when it comes to the biggest players in the aggregates industry.
The past two years have seen a bevy of mergers and acquistions within the top 10. And the trend continues.
Now U.K.-based Holcim has agreed to buy Mexico-based Cemex’s Australian operations for A$2.02 billion.
The agreement is subject to fulfillment of various closing conditions, including confirmatory due diligence, regulatory approvals and funds from buyer financing being disbursed, among others, according to a press statement from Cemex. The maximum period of time to meet all closing conditions is six months.
The last few years have seen No. 1 industry player Alabama-based Vulcan Materials acquire Florida-based Florida Rock. Then there was the hostile takeover attempt by Cemex to take over Florida-based Rinker Materials and Hanson Materials’ acquistion of Aggregate Industries, which later acquired Illinois-based Meyer Material Co.
For the press release on Cemex Australian operations deal with Holcim, click here.
For the Aggregates Manager story, “Making Sense of the Mega Mergers,” click here.