Lehigh, Giant parents scrap Keystone Cement purchase agreement

Sources: U.S. Federal Trade Commission; CP staff

HeidelbergCement AG of Germany and Elementia S.A.B. de C.V. of Mexico, along with their North American subsidiaries—Lehigh Hanson Inc., Lehigh Cement Co. LLC and Giant Cement Holding, Keystone Cement Co., respectively—have terminated an agreement regarding the sale of Keystone’s Bath, Pa. plant to Lehigh Cement. The move responds to a U.S. Federal Trade Commission contention that the $151 million transaction would decrease from four to three the number of significant portland cement suppliers serving 36 eastern Pennsyvlania and 12 western New Jersey counties. After a protracted review of the proposed deal, which HeidelbergCement and Elementia announced in September 2019, the FTC set a November 2021 administrative trial date to prove its allegations of FTC and Clayton Act violations. 

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