Ennstone acquire US limestone quarry

ENNSTONE have completed the acquisition of Keplinger Lime Co. Inc. for US$4.5 million in cash. Keplinger are the owners of a significant limestone deposit near Maysville, West Virginia.

The acquired site comprises over 180 acres of land and has in excess of 10 million tons of currently consented reserves with the scope for further consents in due course. Ennstone say Keplinger are ideally positioned to provide aggregates for their established ready-mixed concrete operations at B&B Concrete and Valley Redi-Mix.

The acquisition of Keplinger is the first to be completed as part of the Ennstone Group’s strategy, stated at the time of their £50.77 million placing and open offer, to acquire additional US aggregate operations in order to replicate the company’s successful UK integrated business model.

Commenting on the move, Ennstone chairman Vaughan McLeod said: ‘We are delighted to have completed our first acquisition of a hard rock quarry in the US. This quarry has excellent long-term reserves, is in an excellent position to supply our West Virginia concrete businesses and provides an opportunity to increase this unit’s production capacity in the future without any major additional capital expenditure.’