Holcim (US) Inc. announced that Holcim Participations (US), a wholly-owned subsidiary of Holcim Ltd, has entered into a nonbinding letter of intent to acquire the remaining interest in Lattimore Materials Co., a Texas-based aggregates and ready-mix concrete producer.
Holcim is currently a 49 percent limited partner of Lattimore Materials Company and will acquire the remaining 51 percent general and limited partnership interests. The transaction, which recently received clearance from the Federal Trade Commission and the U.S. Department of Justice pursuant to the Hart-Scott-Rodino Antitrust Improvements Act, remains subject to a definitive purchase agreement and satisfaction of other customary closing conditions.
"The acquisition of the remaining 51 percent of Lattimore Materials Company is an important growth opportunity for the Holcim Group in North America," said Bernard Terver, Holcim Ltd United States Area Manager. "We are very happy to broaden our business in Texas after successfully partnering with Lattimore and their team over the past three years. Lattimore is one of the premiere aggregates and ready-mix concrete companies in Texas, a state where we have many valued customers."