US: CRH has announced that it has signed an agreement to acquire Eco Material Technologies, a leading supplier of supplementary cementitious materials (SCM) in North America, for a total consideration of US$2.1bn. The business will subsequently operate as Eco Material Technologies, a CRH Company. CRH says that the deal positions it to meet growing demand for cementitious products for the modernisation of North America’s infrastructure and that it secures a long-term supply of critical materials in the region.
Eco Material is headquartered in Utah and operates a national network of fresh and harvested fly ash, pozzolans, synthetic gypsum and ‘green cement’ operations across a network of over 125 stockpiles, production facilities and terminals. The company partners with electric utilities to process and recycle approximately 7Mt/yr of fly ash and 3Mt/yr of synthetic gypsum and other materials, with additional capacity currently under construction.
The proposed transaction is subject to regulatory approval and customary closing conditions and is expected to close in 2025. CRH plans to fund the transaction with cash on hand and does not expect any change in its credit ratings.
