Cemex Inc has agreed to acquire an additional 12.25 per cent stake in Lehigh White Cement Company, a manufacturer of white cement, from Lehigh Cement Company LLC for US$34m.

Lehigh White's enterprise value of the transaction is about US$140m. It operates two plants in Waco, Texas, and York, Pennsylvania, with a combined white cement production capacity of approximately 255,000tpa.

Following the transaction, Cemex will hold 36.75 per cent of Lehigh White. In addition, Aalborg Cement Company Inc (Cementir Group) has agreed to acquire an additional 38.75 per cent stake in Lehigh White from Lehigh Cement. The deal remains subject to the satisfaction of standard closing conditions for this type of transaction and is expected close by the end of the 1Q18.