Cementir Holding has acquired an additional 38.75% stake in HeidelbergCement subsidiary Lehigh White Cement; increasing its share to 63.25%. The transaction, valued $106.6m, intends to allow the company to manage assets in the US in the core white cement business and support its growth strategy.
Cemex owns the remaining 36.75% following HeidelbergCement’s approval for Lehigh White Cement to sell its 51% position in February.
Lehigh White Cement produces, imports and markets white cement through North America and is said to take and allows engineers, contractors and architects to choose from an unlimited range of colours, textures, shapes, sizes and patterns to accommodate multiple applications.
White Portland cement is designed with the intention of providing strength, durability and workability. Its colour is produced with specialised raw materials and exacting process paraments.
