Eagle Materials

CEMEX's U.S. affiliate has closed the previously announced divestment of its Kentucky cement plant and related assets to Eagle Materials Inc. for approximately $665 million, with CEMEX receiving about $499 million.

Eagle Materials received FTC approval to acquire the assets of Kosmos Cement, a joint venture between Cemex and Buzzi Unicem, for $665 million. The acquisition includes a 1.7Msta cement plant in Louisville, seven distribution terminals, and raw material reserves, boosting Eagle's cement capacity by about 25%.

Eagle Materials entered a definitive agreement to purchase Kosmos Cement Company's Louisville, Kentucky cement plant and related assets, including seven distribution terminals, for $665 million. The plant has capacity of nearly 1.7 million tons of cement annually.

Eagle Materials' board approved a plan to separate its heavy materials (cement) and light materials (gypsum wallboard and recycled paperboard) businesses into two publicly-traded entities via a tax-free spin-off, expected to be completed in the first half of 2020.

Eagle Materials Inc. announced plans to modernize and expand its Laramie, Wyoming cement plant and related distribution facilities. The $430 million investment will increase annual capacity by 50% to 1.2 million tons and reduce manufacturing costs by approximately 25%.

Eagle Materials agreed to buy two cement plants in Sugar Creek, Mo., and Tulsa, Okla., from Lafarge North America for $446 million, along with distribution terminals, quarries, ready-mix plants and a fly ash business.

A Cemex subsidiary closed the divestment of its Fairborn, Ohio cement plant and Columbus, Ohio cement terminal to a subsidiary of Eagle Materials for approximately US$400 million.