Texas-Based Construction Corporation Acquires Owner of Thomaston Cement Plant
Heidelberg Materials North America announced it will acquire Giant Cement Holding, Inc. and its subsidiaries, including the owner of the Thomaston cement plant, Dragon Products Company. The announcement was made over the Thanksgiving holiday.
The acquisition comes after Dragon Products revealed last fall that the Thomaston plant would cease operations and lay off 65 workers by 2025. Earlier this year, officials indicated that the plant would transition to a distribution and storage hub for cement imported from Spain.
It remains unclear what the acquisition will mean for the future of the Thomaston plant, which has faced a history of safety and environmental violations. A spokesman for Heidelberg did not respond to inquiries regarding the impact on the plant.
The deal is valued at $600 million and is expected to be finalized by the first quarter of 2025.
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