Rinker Materials Corp, a subsidiary of CSR have completed negotiations for the purchase of Kiewit Materials Company for US$540 million. The deal is expected to be completed by the end of September
Kiewit is a major US producer of building materials such as aggregates, concretes and ashphalt. They have operations in Arizona, Washington, California, Wyoming, Nebraska, Utah and New Mexico. Facilities include 44 aggregate factories, including 8 hard rock quarries, and reserves estimated to be in excess of 800 millions tons, equating to an average of 30 years.
The acquisition of Kiewit provides a major strategic expansion for Rinker. It is an excellent fit with Rinker’s existing business and will make Rinker the fifth largest aggregates producer in the US, supplying over 84 million tons per year. They will also become the second largest manufacturer of pre-mixed concrete supplying 13 million cubic yards per year.
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