Sources: HeidelbergCement AG, Germany; CP staff
In a $151 million cash deal, Lehigh Hanson Inc. will acquire the 1.1 million ton per year capacity Keystone cement plant in Bath, Pa., from Giant Cement, a subsidiary of Mexico’s Elementia S.A.B. de C.V.
“With its modernized kiln, healthy customer base and large limestone reserves, the Keystone cement plant is an excellent strategic fit for HeidelbergCement in North America and an important step in strengthening our cement footprint in this key market,” says Dr. Bernd Scheifele, chairman of Lehigh Hanson parent HeidelbergCement. “The acquisition of one of the most modern and environmentally sustainable cement facilities in the United States will further help Lehigh Hanson reduce its carbon footprint by safely substituting alternative fuels for traditional fossil fuels such as coal. In addition, we anticipate a number of operational efficiencies as a result of this transaction.”
A Lehigh Valley fixture since 1928, the Keystone plant runs a kiln upgraded in 2009 and supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged portland cements.