Cemex S.A.B. de C.V. enters the new year on track to unload a major non-core U.S. asset: the Rinker Materials concrete pipe and precast business. Under a definitive, late-2016 agreement, the producer will sell the entity to Atlanta-based Quikrete Holdings Inc. for about $500 million, plus an additional $40 million depending on future performance.
Read MoreSources: Cemex S.A.B. de C.V., Monterrey, Mexico; CP staff
Cemex is on track to unload in early 2017 a major non-core U.S. asset: the Rinker Materials concrete pipe and precast business. Under a definitive agreement announced November 28, the producer will sell the entity to Atlanta-based Quikrete Holdings Inc. for about $500 million, plus an additional $40 million depending on future performance.
Read MoreSources: Quikrete Cos., Atlanta; CP staff
Quikrete Holdings Inc. will acquire all outstanding shares of Contech Engineered Solutions, LLC common stock in a transaction projected to close mid- to late-November. The companies announced a definitive merger agreement on October 24, following approval of both their boards.
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United Kingdom-based clay and concrete building product specialist Ibstock Plc recently appointed Doug Rende as president of Glen-Gery, a leading brick producer in the U.S. Northeast, Mid-Atlantic and Midwest regions. He succeeds Steve Matsick.
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Atlanta-based Quikrete Companies continues to build out a professional-grade, bagged product line, unveiling at World of Concrete 2016 a dry mix for structural bridge, parking deck, tunnel, dam, wall and floor repairs. Shipped in 80-lb. bags, Form and Pour is a high-flow, high-strength concrete ideally placed by pump. Its mix design includes micro silica, plastic shrinkage-reducing and air-entraining agents, portland cement, plus 3/8-in. or smaller aggregate.
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