Tuesday, July 21, 2015

USA: Local cement facilities under new ownership in the Quad Cities area

Continental Cement Company has closed the deal to exchange a Bettendorf facility and cash for a cement plant and seven cement distribution terminals from Lafarge.

Continental’s parent company, Denver-based Summit Materials, bought the facilities – collectively known as the “Davenport Assets,” from Lafarge North America for $450 million in cash plus Lafarge gets the Continental/Summit cement distribution terminal in Bettendorf, Iowa.

The purchase doubles Continental’s cement capacity, giving Continental 2.45 million tons of cement capacity and eight cement distribution terminals along the Mississippi River between Minneapolis and New Orleans.

The purchase includes Continental acquiring the cement plant in Buffalo, Iowa.

“The newly acquired cement operations are a complementary fit with Continental’s existing cement plant in Hannibal, MO and cement distribution terminal in St. Louis, MO. The combined business will operate as Continental Cement Company,” said a statement from Continental’s parent company.

The announcement comes a week after the announcement that the Lafarge-Holcim global merger was completed in mid-July.

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