HeidelbergCement Broadens Position in Northwestern USA With Acquisition of Concrete Operations

HEIDELBERG, 25-Apr-2017 — /EuropaWire/ — Today (18 April 2017), HeidelbergCement announced that its U.S. subsidiary Cadman Materials, Inc. , a LehighHanson company, has entered into an agreement with a U.S. subsidiary of CEMEX, S.A.B. de C.V. (Cemex) to buy Cemex’s Pacific Northwest Materials Business consisting of aggregate, asphalt and ready mix concrete operations in Oregon and Washington. The purchase price for the assets amounts to about USD 150 million. Closing of the transaction, which is subject to final approval by regulators, is expected during the second quarter of 2017 or soon thereafter.

“The operations are an ideal strategic fit in order to broaden our vertically integrated market position in the states of Washington and Oregon” explains Dr. Bernd Scheifele, Chairman of the Managing Board of HeidelbergCement. “This is a bolt-on acquisition with low risks and we are expecting significant synergies. It is part of our strategy of disciplined growth and increasing shareholder returns.”

Cemex’s Pacific Northwest Materials Business includes 7 aggregate quarries, 5 ready mix concrete plants and 2 asphalt operations employing about 350 employees. LehighHanson  will fully integrate all the operations into its current network thereby  broadening its position in the Pacific Northwest area.

About HeidelbergCement
HeidelbergCement is one of the world’s largest integrated manufacturers of building materials with leading market positions in aggregates, cement, and ready-mixed concrete. The company employs some 60,000 people at more than 3,000 locations in around 60 countries.

SOURCE: HEIDELBERGCEMENT AG

Andreas Schaller

Group Spokesman, Director Group Communication & Investor Relations
Tel: +49 6221 481 13249
Fax: +49 6221 481 13217
Andreas.Schaller@heidelbergcement.com
HeidelbergCement AG
Berliner Straße 6
69120 Heidelberg
Germany