ZURICH, Switzerland, Nov. 20 /PRNewswire-FirstCall/ -- Holcim Participations (US) Inc. signed a definitive agreement to purchase a significant minority ownership position in Lattimore Materials Company, L.P. of McKinney, Texas -- one of the leading suppliers of concrete and aggregate materials in the state. Lattimore Materials currently employs approximately 1,150 people and operates six aggregate quarries, 19 ready mix concrete plants, four rail terminals, and a fleet that includes more than 400 mixer and haul trucks. The closing of the transaction is expected to occur at the end of the month.
Lattimore Materials' management team, led by President Vic Lattimore, will continue to manage the company and oversee its operations.
"This transaction makes good business sense for both companies," said Lattimore. "Holcim is a quality company. We believe that this investment will strengthen both companies' prospects for growth and allow them to add greater value and long term stability."
Lattimore has been involved in numerous high-profile projects, including the Texas Motor Speedway, Gaylord Texan (Opryland), and the J.C. Penney National Headquarters building.
Holcim Ltd (PinkSheets:HCMLF) is one of the world's leading suppliers of cement and aggregates (crushed stone, gravel and sand) as well as further activities such as ready-mix concrete and asphalt including services. The Group holds majority and minority interests in more than 70 countries on all continents. Holcim Participations (US) Inc., Holcim (US) Inc., and Aggregates Industries are subsidiaries of Holcim Ltd.
Source: Holcim Ltd
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