Reuters logo
Eagle Materials to buy Lafarge cement plants for $466 mln
September 26, 2012 / 8:52 PM / 5 years ago

Eagle Materials to buy Lafarge cement plants for $466 mln

Sept 26 (Reuters) - Building material maker Eagle Materials Inc will buy two cement plants from larger peer Lafarge North America Inc for $466 million, expanding its production capacity by 60 percent.

The company said it will buy Lafarge’s Sugar Creek, Missouri and Tulsa, Oklahoma plants and related assets, which generated $178 million in revenue in the year ended June 30.

Eagle will supply cement to Lafarge for four to five years while Lafarge will supply low-cost alternative fuels to the operations it sells.

The deal will be funded through Eagle’s existing credit facility and an equity offering.

The Dallas, Texas-based company’s shares closed up 3 percent at $43.30 on the New York Stock Exchange on Wednesday.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below