August 2008 – AggBeat
On May 9, 2008, Knife River Corp. (Knife River), a subsidiary of MDU Resources Group Inc. (MDU Resources), acquired Yarbrough’s Material & Construction (Yarbrough), a leading aggregate supplier and ready-mixed concrete producer near Sour Lake, Texas, located approximately 25 miles west of Beaumont. Yarbrough serves the southeast Texas market, primarily the Beaumont and Port Arthur area, with an aggregate distribution yard and ready-mixed concrete plant. Yarbrough distributes more than 300,000 tons of aggregate annually. The acquisition of Yarbrough strengthens Knife River’s construction materials business in an area that is experiencing strong industrial and commercial growth. The financial terms of the transaction were not disclosed; however, MDU Resources anticipates the acquisition will be accretive to 2008 earnings per share.
On May 19, 2008, Knife River acquired another business – Amador Transit Mix Inc. (Amador). Located in Sutter Creek, Calif., Amador is a ready-mixed concrete producer. The acquisition of Amador strengthens Knife River’s California presence and complements the existing company’s products and services. Similar to the Yarbrough deal, no transaction terms were disclosed but the acquirer expects the transaction to be accretive.
On June 4, 2008, Lafarge North America Inc. (Lafarge), a subsidiary of Lafarge SA acquired four sand and gravel locations in southeastern Louisiana from Texas Industries Inc. (Texas Industries). The acquisition will expand Lafarge’s presence in southeastern Louisiana and position it to better serve customers by expanding its product offering. The operations will be integrated into Lafarge’s Eastern U.S. Aggregates and Concrete region. The financial terms of the transaction were not disclosed.
by Bill Watkins, managing director, National City Capital Markets. Watkins is a contributing editor. He may be reached at 216-222-7134 or firstname.lastname@example.org.
MORE FROM AggBeat
SUBSCRIBE & FOLLOW
- Product of the Week: Cat 988K loader511 Views
- NSSGA names Michael W. Johnson as president, CEO212 Views
- Supreme Court rules in favor of Vulcan mining project in Virginia179 Views
- Rock quarry owner proposes expansion in Sitka, Alaska115 Views
- Brant City Council approves water report for Dufferin gravel pit111 Views