Heidelberg Materials North America has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries, Giant Cement Company, Dragon Products Company and Giant Resource Recovery, from the Fortaleza, Uniland and Trituradora groups.
Included in the around US$600 million deal are Giant Cement Company assets in the Southeastern US, consisting of an integrated cement plant in Harleyville, South Carolina, a network of four cement distribution terminals in Georgia and South Carolina, as well as a joint-venture deep-water import terminal in Savannah, Georgia. Dragon Products assets in New England, including a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston, Massachusetts. Giant Resource Recovery (GRR!), a hazardous and non-hazardous alternative fuel recycling business with four strategically located facilities in the Eastern US.
Heidelberg Materials North America’s purchase of GCHI is expected to contribute around $60 million in EBITDA in the first year of operation before significant additional synergies.
“The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern U.S. and New England markets,” said Chris Ward, president and CEO of Heidelberg Materials North America. “We are excited to expand our supply network on the East Coast to better serve our broad customer base, and we expect strong synergies with the Giant Resource Recovery fuel recycling business. We welcome the GCHI employees and customers to Heidelberg Materials and look forward to the opportunities and growth potential ahead.”
This latest acquisition by Heidelberg Materials reflects its continued focus on further strengthening its footprint in core markets, building a sustainable future and positioning the company as the front-runner on the path to carbon neutrality and a circular economy in the construction materials industry.
