Eagle Materials takes flight in Ohio
Heavy-duty building-material manufacture Eagle Materials is gaining a new cement plant in Ohio.
The Dallas-based company entered a deal to purchase Cemex’s Fairborn, Ohio cement plant, as well as related assets, which include a distribution terminal in Columbus, Ohio and a cement bagging operation. The cement plant has the capacity to grind nearly one million tons of clinker annually.
The purchase price is $400 million, subject to customary post-closing adjustments.
The transaction is expected to close in the fourth quarter of calendar 2016, or shortly thereafter.
Eagle already has six cement manufacturing facilities in Illinois, Missouri, Nevada, Oklahoma, Texas and Wyoming.
The acquisition will increase Eagle's US cement capacity by roughly 20%.
“The Fairborn plant extends our US cement system and connects but does not overlap with the market reach of our existing plants,” said Dave Powers, Eagle Materials’ president and CEO. “This high-quality cement plant is a compelling fit with our strategic objectives and our criteria for new investment. These assets will allow us to participate more fully in the US construction industry and further positions the company in target US heartland growth markets."
Among Eagle’s products are cement, aggregates and concrete and wallboard.
