Hanson sells 50 percent interest in North Texas Cement

摘要

Hanson PLC, the international building materials company, has agreed to the sale of its 50 percent interest in North Texas Cement Co. (NTCC) to its joint venture partner, Ash Grove Cement Co., for 125.4 million dollars in cash, subject to final adjustments. NTCC's facilities include a 900,000-ton capacity cement plant in Midlothian, Texas, (southwest of Dallas) and a cement import terminal in Houston. Although the cement plant was originally constructed in 1965, Hanson's investment in NTCC dates from its acquisition of Pioneer International Ltd. in 2000. The sale reflects Hanson's strategy of focusing on its core products of aggregates and related products, concrete products and clay bricks. Following the sale, Hanson's ready-mixed concrete operations in the region will continue to benefit from cement supply agreements with NTCC.