CRH Reportedly Has Eyes Set on Suwannee

CRH plc is reportedly nearing an agreement to acquire Branford, Fla.-based Suwannee American Cement from Votorantim Cimentos and Anderson Columbia Co. to further drive growth in North America, according to Bloomberg’s sources said the deal may value Suwannee at $750 million.

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Cemex Sells Remaining GCC Shares

Cemex announced that it sold a 9.47 percent direct interest in Grupo Cementos de Chihuahua (GCC) for approximately $168 million, which will be used mainly for debt reduction and general corporate purposes. The company continues to have a 20 percent indirect interest in GCC through CAMCEM, an entity that owns a majority interest in GCC and in which CEMEX has a direct interest.

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LafargeHolcim Names New CFO

LafargeHolcim announced the appointment of Géraldine Picaud as chief financial officer and member of the executive committee, effective Feb. 1, 2018. Current CFO Ron Wirahadiraksa has “decided to pursue opportunities outside the group,” according to the company, but will remain in his role to provide a smooth handover to Picaud in due course.

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Bidding War for Ash Grove Cement

Overland Park, Kan.-based Ash Grove Cement Co. received a preliminary, non-binding competing proposal from a third party – rumored to be Summit Materials – to acquire Ash Grove at an indicated enterprise value of $3.7 billion to $3.8 billion. The company currently has an Agreement and Plan of Merger with CRH plc, under which CRH will acquire Ash Grove for $3.5 billion.

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