Heidelberg Materials North America 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 – for $600 million subject to ordinary post-closing adjustments.
“The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern United States 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.”
The deal includes an integrated cement plant in Harleyville, S.C.; two deep-water terminals (Savannah, Ga., and Boston); five distribution terminals in Georgia, South Carolina and New Hampshire; and a recycling/alternative fuels business.
This latest Heidelberg Materials acquisition reflects the company’s continued focus on further strengthening its footprint in core markets, building a sustainable future and positioning it as the front-runner on the path to carbon neutrality and a circular economy in the construction materials industry, the company stated.
