Sources: CP staff
The formal closing of the Lafarge S.A. and Holcim Ltd. merger will trigger expedited unloading of U.S. and Canadian cement, aggregate and concrete production and distribution assets valued at $1 billion-plus. Topping the regulator-driven transactions will be the sale of the Holcim (Canada) Inc. business to Oldcastle Inc. parent CRH Plc, and Lafarge North America’s Davenport, Iowa, cement plant and seven-terminal Mississippi River network to Continental Cement Co. parent Summit Materials.
Agreements on those and smaller transactions netting Buzzi Unicem, Eagle Materials and Essroc Cement Corp. terminals and slag cement mills from Massachusetts to Minnesota paved the way for Federal Trade Commission and Canadian Competition Bureau approval of U.S. and Canadian entities under the proposed LafargeHolcim parent. FTC and CCB blessings were among final conditions cleared for the merger, which was closed July 10 following a successful 10:9 exchange of Lafarge for Holcim shares. The LafargeHolcim executive committee comprising both companies’ senior management representatives will be led by Lafarge North America-minted Eric Olsen, chief executive officer.
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