- Aggregates Manager - http://www.aggman.com -

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-materials-logo [1]Vulcan 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.

Article printed from Aggregates Manager: http://www.aggman.com

URL to article: http://www.aggman.com/vulcan-sells-atlanta-interest-to-plum-creek-timber/

URLs in this post:

[1] Image: http://www.aggman.com/files/2013/03/vulcan-materials-logo-e1364329479905.jpg

Copyright © 2009 Aggregates Manager. All rights reserved.