Sources: Boral Ltd., Sydney; CP staff
Boral has announced an agreement to sell its Texas concrete masonry operations to Atlanta-based Quikrete Holdings Inc., anticipating a mid-November closing for the $156 million deal. Boral inherited the block production assets with the May 2017 Headwaters Inc. takeover, and has recently moved to streamline its portfolio around building products and fly ash businesses in North America; the USG Boral gypsum-based wall and ceilings joint venture; and, construction materials production in Australia.
Sources: Boral Resources, Atlanta; CP staff
The leading marketer of ASTM C618-grade fly ash has secured U.S. rights for processing ceramic lightweight aggregate from high carbon residuals generated at coal-fired power stations or impounded at their sites or designated landfills.
Sources: Boral Ltd., Sydney; Brennan Companies, Denver; CP staff
Boral Ltd. has reached an agreement to sell its Colorado ready mixed and aggregates operations in a $127 million deal with Denver-based Brannan Sand & Gravel Co. Boral Construction Materials spans a namesake Aggregates site plus six plants under the legacy Ready Mixed Concrete Co. brand. Brannan operates three ready mixed, three aggregate and four asphalt plants serving the Denver-anchored Front Range market, plus an underground-construction business.
Sources: Boral North America, Atlanta; CP staff
The leading manager and marketer of coal combustion products has acquired the Carbon Burn-Out (CBO) technology of PMI Ash Technologies LLC in Raleigh, N.C. The CBO process brings the quality of fly ash produced at coal-fueled electric generating stations to ASTM C618 grade, and can also be used to cost-effectively convert impounded ash to high quality pozzolan for concrete applications.
Sources: Headwaters Inc., South Jordan, Utah; Boral Ltd., Sydney; CP staff
A binding merger agreement announced Sunday, November 20, will unite the top two U.S. fly ash marketers and precast concrete stone veneer producers. Boral Ltd. will acquire Headwaters Inc. in a cash deal with enterprise value of approximately $2.6 billion; stockholders will receive $24.25 per share, a 21 percent premium to Headwaters’ November 18 closing price.
Acquisition of a 50 percent Owens Corning Masonry Products stake follows recent Boral financing and portfolio-strengthening measures in Australia and the U.S.