Building materials heavyweight LafargeHolcim has entered into an agreement to buy American ready-made concrete company Tarrant Concrete.
Based in Texas, Tarrant predominantly supplies major construction projects in the Dallas-Fort Worth area through its three production facilities and 90 employees. Last year the company turned over around $40mn in sales.
Over the past decade, the Dallas-Fort Worth metropolitan area has been one of the fastest growing regions in the US with average annual population growth of 2% and 1.3mn new residents.
Jan Jenisch, CEO of LafargeHolcim, commented: “The acquisition of Tarrant Concrete follows our Strategy 2022 – ‘Building for Growth’ by capturing growth opportunities in our most attractive markets.
“By being highly complementary to our existing business, Tarrant Concrete will allow us to expand our ability to serve customers in a high growth area of Texas. I very much welcome all employees of Tarrant Concrete to our company.”
LafargeHolcim already commands a strong footprint in the American marketplace, employing 7,000 staff and carrying out operations in 43 states.
The firm operates around 350 sites which deliver a range of cement and aggregate solutions alongside contracting asphalt and ready-mix.
Globally, LafargeHolcim’s presence comprises 80,000 employees working in 80 different countries spanning mature and emerging markets.
In the Middle East, LafargeHolcim also announced the appointment of Miljan Gutovic as the Head of Region Middle East Africa and Member of the Executive Committee of LafargeHolcim, effective as of July 2018.
Financial details of the Tarrant Concrete purchase have not been disclosed.