Eagle Materials divests concrete and aggregate assets to Teichert
US building material company Eagle Materials has divested its Western Aggregates and Mathews Readymix operations for $93.5 million to California-based construction company Teichert.
Western Aggregates vested-rights-to-mine spans 3,900 acres and includes more than 900 million tons of aggregates, while Mathews Ready Mix assets include three concrete batch plant locations along with 26 trucks.
Michael Haack – Eagle Materials President and CEO said: “This transaction represents the sale of non-core assets on the heavy-side of our company. In using the term ‘non-core’ I mean that they do not provide essential support to our primary cement plant network. We are especially keen on having the most strategically coherent set of heavy-side assets established in advance of our previously announced spin-off.
“These divestitures along with the integration of the Kosmos cement plant acquisition, create a focused heavy materials business with a broad capability to serve US heartland cement markets.”
Headquartered in Dallas, Texas, Eagle Materials manufactures and distributes cement, recycled paperboard, gypsum wallboard, concrete, aggregates, and sand from 75 plus facilities across the US.