Sources: Carmeuse Lime & Stone, Pittsburgh; CP staff
Carmeuse Lime & Stone has acquired Owensboro, Ky.-based Yager Materials, whose operations span a Meade County quarry; an Ohio River sand & gravel dredging business; three aggregate yards; four ready mixed concrete and two asphalt plants; liquid asphalt terminal; grade and drain division; plus, marine barge construction and repair division.
“This acquisition is consistent with our long-term strategy and vision,” says Yves Willems, chief executive officer of Belgium-based Carmeuse Group. “Yager is a well-managed company with great people. It owns and operates excellent assets in an area that fits nicely with our existing network.”
“Yager Materials has worked with Carmeuse over the past few years and looks forward to joining the Carmeuse Group,” adds Pat Yager, president. “Carmeuse is a family business that fits our current culture and values. The transaction should be a smooth transition for our employees and customers. The intent is for the Yager family members to remain involved and maintain an interest in the company.”
The Kentucky operations bring the suitor deeper into construction materials. Carmeuse Lime & Stone is a key player in production of lime for agriculture, construction and industrial markets, and a top 10 U.S. crushed stone producer, based on current U.S. Geological Survey shipment figures. The Yager Materials businesses join a North American organization with 30 sites, all east of the Mississippi, and 1,800 employees.