Sources: Grupo Cementos de Chihuahua, S.A.B. de C.V., Mexico; CRH Plc, Dublin; CP staff
CRH Americas and the parent of GCC America have closed transactions coinciding with the former producer’s acquisition of Ash Grove Cement Co. and abiding a U.S. Federal Trade Commission settlement.
Per settlement terms, CRH Americas has sold GCC the 350,000-tpy Trident cement plant in Three Forks, Mont. In a companion deal independent of the FTC agreement, CRH Americas has acquired much of GCC America’s Oklahoma and northwest Arkansas ready mixed concrete production and fleet assets. GCC will maintain and operate four ready mixed plants in the Fort Smith, Ark. area, and lease a Tulsa, Okla., office building to CRH Americas. The cement and ready mixed deals were valued at $107.5 million and $118.5 million, respectively.
Beyond the Trident plant, CRH Americas agreed to sell Nebraska and Kansas aggregate production assets to Martin Marietta Materials and Summit Materials, which along with GCC met FTC criteria as suitors capable of maintaining competition in their markets. CRH Plc closed the $3.5 billion Ash Grove acquisition on June 22.