Vulcan sells Atlanta interest to Plum Creek Timber

EQW Staff

September 27, 2013

vulcan-materials-logoVulcan Materials announced Wednesday that Plum Creek Timber Company is purchasing an interest in the future production at four of Vulcan’s quarries in Atlanta, Georgia.

Vulcan will receive $154 million in exchange for a percentage royalty interest in 255 million tons of aggregate production over about 25 years.

According to Vulcan, “The transaction allows Vulcan to unlock long-term value in these quarries, tax efficiently, while maintaining full ownership and operational control of the quarries, fixed assets, and land.”

A pre-tax gain of $154 million will be recognized over the life of the transaction.

There are no comments

Join the conversation

Your email address will not be published. Required fields are marked *