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Vulcan sells Atlanta interest to Plum Creek Timber
Posted By Amanda Bayhi On September 27, 2013 @ 12:26 pm In Aggbeat Online,News | No Comments
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.
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