UNACEM to acquire Tehachapi plant

Peru-based Grupo UNACEM is buying the 0.9Mta Tehachapi cement plant in California, USA, from Martin Marietta Materials Inc for US$317m.

"The acquisition of Tehachapi represents an opportunity to strengthen our presence in the Southwest US market," said Pedro Lerner, CEO of Grupo UNACEM. "If this transaction is approved, the United States would become the second country in terms of installed capacity for the UNACEM Group and also as a generator of revenues and EBITDA, after Peru. It is a source of pride for a Peruvian group with a cement trajectory of more than 100 years and at the same time a challenge that we assume with responsibility, to be able to consolidate ourselves as a regional player in a market as competitive as the North American one", he added.

If the acquisition is approved by the California state antitrust authorities, UNACEM will have six cement plants: Atocongo and Condorcocha in Peru, Paulden (AZ)  and Tehachapi (CA) in the USA, San Juan in Chile and Otavalo in Ecuador. The total installed capacity of the plants will be more than 12.8Mta. The company also operates ready-mix, energy and related services business.