(IN BRIEF) Heidelberg Materials has entered a definitive agreement to acquire the business of Green Drop Rock Products, an independent aggregates producer in Cochrane, Alberta, Canada. The acquisition will bolster Heidelberg’s aggregates reserves in the Greater Calgary area and enhance its integrated presence in the local market. This move aligns with Heidelberg Materials’ strategy to optimize its core market portfolio and strengthen existing operations through targeted acquisitions.
(PRESS RELEASE) HEIDELBERG, 22-Aug-2023 — /EuropaWire/ — Heidelberg Materials has entered into a definitive purchase agreement to acquire the business of Green Drop Rock Products located in Cochrane, Alberta, Canada. Green Drop Rock Products is an independent producer of aggregates with a high-capacity plant that is well positioned to supply the Calgary market.
The acquisition of the Green Drop Rock Products business will further strengthen the company’s aggregates reserves in the Greater Calgary area and reinforce its integrated footprint in this attractive market. The assets of Green Drop Rock Products complement the existing operations in this growing part of Alberta.
The province of Alberta is also home to Heidelberg Materials’ Edmonton plant, where the cement industry’s first global full-scale carbon capture and storage facility is being built. The new facility is scheduled to be operational by late 2026 and will capture more than 1 million tonnes of CO₂ annually.
The transaction is expected to close in early September 2023. This acquisition reflects Heidelberg Materials’ strategic plan to optimise its portfolio in core markets and strengthen its existing businesses through bolt-on acquisitions.
About Heidelberg Materials
Heidelberg Materials is one of the world’s largest integrated manufacturers of building materials and solutions with leading market positions in cement, aggregates, and ready-mixed concrete. We are represented in more than 50 countries with around 51,000 employees at almost 3,000 locations. At the centre of our actions lies the responsibility for the environment. As the front runner on the path to carbon neutrality and circular economy in the building materials industry, we are working on sustainable building materials and solutions for the future. We enable new opportunities for our customers through digitalisation.
Group Spokesman, Director Group Communication & Investor Relations
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SOURCE: Heidelberg Materials