Continental Cement Grows
Continental Cement is adding capacity. Summit Materials announces an agreement to acquire Lafarge’s Davenport, Iowa cement plant and seven distribution terminals, including six terminals along the Mississippi River.
A press release on Business Wire says the Davenport facility will be integrated into Summit’s Continental Cement Company. The 450 million dollar transaction is expected to close in July 2015 pending final regulatory approval and the closing of the Lafarge-Holcim global merger.
The combined business will have a combined cement capacity of 2.45 million tons through the plants in Hannibal and Davenport, and eight cement distribution terminals along the Mississippi River from Minneapolis to New Orleans.