Aggregate Industries announce strategic US expansions
AGGREGATE Industries Inc. have acquired four businesses for $38.3 million (£24.4 million) as part of their strategy for ongoing expansion in the US.
In their North Central Region, the company have acquired the operating assets of Holst Excavating Inc. and the the ready-mixed concrete and aggregates assets of Mobilcrete Inc. and Sioux Valley Ready Mix Inc.
Located south-east of Minneapolis/St. Paul, Holst's business comprises five limestone quarries and two sand and gravel operations. They currently produce 1 million tons of aggregates a year and control more than 200 million tons of permitted reserves.
Mobilcrete operate three ready-mixed concrete plants and Sioux Valley run a further two together with a sand and gravel operation. All six plants lie south-west of Minneapolis/St.Paul along the Minnesota River valley, where Aggregate Industries expect continued growth.
In 1999 the two businesses produced approximately 200,000yd3 of ready-mixed concrete and 150,000 tons of sand and gravel.
Meanwhile, in their Central Region, Aggregate Industries have acquired Michigan Colprovia Co, a leading producer of asphalt in the Grand Rapids area of Michigan. The company's two asphalt plants currently produce over 450,000 tons of asphalt annually.
