As 2007 wound down, Dublin-based CRH Plc announced closing on certain Cemex S.A.B. de C.V. assets in Florida and Arizona. The 39 properties were sold
CP STAFF
As 2007 wound down, Dublin-based CRH Plc announced closing on certain Cemex S.A.B. de C.V. assets in Florida and Arizona. The 39 properties were sold as a condition of the U.S. Department of Justice withdrawing a complaint regarding antitrust concerns surrounding the impact on domestic markets from Cemex’s $15.3 billion Rinker Group acquisition, consummated in June 2007. Negotiations for the deal began in mid-September, and the purchase price was reportedly $250 million.
The Florida assets span 26 ready mixed plants in Tampa, southwest Florida, Orlando, Jacksonville, and the Panhandle, as well as six block plants operating primarily in the Tampa/St. Petersburg and Fort Myers/Naples areas. In Arizona, (Oldcastle Architectural, Precast and Materials parent company) CRH acquired two quarries and five ready mixed locations, principally in the Tucson market. The transaction ushers Oldcastle Materials into the ready mixed business in Arizona and Florida, states where sister Architectural and Precast divisions are well established. By Concrete Products estimates, Cemex remains by far the top ready mixed producer in Arizona and Florida.