Eagle Materials to Separate Heavy, Light Materials Businesses

摘要

Eagle Materials Inc. announced that its board of directors approved a plan to separate its Heavy Materials and Light Materials businesses into two independent, publicly traded corporations by means of a tax-free spin-off to Eagle shareholders. The separation is expected to be completed in the first half of 2020. The company also announced that it is actively pursuing alternatives for its Oil and Gas Proppants business with the support of an independent financial advisor. Further, the company's board will continue to evaluate any opportunity to create value that may arise prior to completion of the separation.