Dr. Dominik von Achten, chairman of the managing board at HeidelbergCement, says: “The sale of our US West region activities is a major step in our portfolio optimisation as part of our ‘Beyond 2020’ strategy. We are simplifying our portfolio in North America and prioritising on the strongest market positions. Our engagement for the North American market is stronger than ever.”
The transaction comprises the sale of Lehigh Hanson’s business activities in cement, aggregates, ready-mixed concrete, and asphalt in the US West region (California, Arizona, Oregon, and Nevada), except for the Permanente cement plant and quarry. The sale includes two cement production plants with related distribution terminals, 17 active aggregates sites and several downstream operations.
Chris Ward, CEO at Lehigh Hanson, says: “We will accelerate the build-out of our positions in the four key regions Canada, Midwest, Northeast and South through selected bolt-on acquisitions and capacity expansion projects in the future.”
The transaction is expected to close in the second half of 2021 pending regulatory approvals. Lehigh Hanson will maintain ownership and management of these assets until that time.