Heidelberg Materials to Acquire Giant Cement for $600MHeidelberg Materials to Acquire Giant Cement for $600M

Heidelberg Materials North America announced that it has entered into a definitive purchase agreement to acquire Giant Cement Holding Inc. (GCHI) and its subsidiaries Giant Cement Co., Dragon Products Co., and Giant Resource Recovery from the Fortaleza, Uniland and Trituradora groups. Giant Cement Holding Inc. is an established cement producer on the US East Coast with a strong focus on using waste-derived fuels.

“Our latest additions are yet another great strategic fit creating value in the near term through significant synergies with our existing assets on the East Coast. This move follows a series of key acquisitions this year that have already contributed to our consistently strong financial performance in North America,” said Dr. Dominik von Achten, chairman of the Managing Board of Heidelberg Materials. “At the same time, we are excited about taking further steps in building a sustainable future and positioning Heidelberg Materials as the front runner on the path to net zero and a circular economy in the key North American market.”

The transaction’s assets in the Southeastern US consist of an integrated cement plant with an annual capacity of 800,000 tonnes of cement in Harleyville, SC, a network of four cement distribution terminals in GA and SC, and a joint venture deep-water import terminal in Savannah, GA. Assets in the New England area comprise a cement and slag distribution terminal in Newington, NH, and a deep-water import terminal in MA. Also included in the transaction is Giant Resource Recovery, an alternative fuel recycling business with four strategically located facilities in the Eastern US.

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“The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern US and New England markets,” said Chris Ward, president and CEO of Heidelberg Materials North America and member of the Managing Board of Heidelberg Materials. “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.”

The transaction is expected to be completed in the first quarter of 2025.