Heidelberg Materials North America has signed a definitive agreement to acquire Giant Cement Holding Inc. (GCHI), a leading cement producer on the US East Coast known for its focus on waste-derived fuels. The acquisition, valued at approximately US$600m, is expected to close in Q1 2025, subject to customary post-closing adjustments.
The purchase includes an integrated cement plant in Harleyville, South Carolina, with a capacity of 800,000tpa, as well as a robust distribution network comprising four terminals across Georgia and South Carolina. In addition, Heidelberg Materials will gain a joint-venture deep-water import terminal in Savannah, Georgia, alongside a cement and slag distribution terminal in Newington, New Hampshire, and a deep-water import terminal in Boston, Massachusetts. Giant Resource Recovery, an alternative fuel recycling business with four facilities in the Eastern US, is also part of the acquisition.
The deal aims to bolster Heidelberg Materials’ cementitious footprint in the key Southeastern US and New England markets while advancing the company’s decarbonisation and circular economy objectives.
Dr Dominik von Achten, chairman of the managing board of Heidelberg Materials, commented, “Our latest additions are yet another great strategic fit, creating value in the near term through significant synergies with our existing assets on the East Coast. At the same time, we are excited about taking further steps in building a sustainable future and positioning Heidelberg Materials as the frontrunner on the path to net zero and a circular economy in the key North American market.”
Chris Ward, president and CEO of Heidelberg Materials North America, added, “The acquisition of the GCHI assets will further strengthen our cementitious footprint in the growing Southeastern US and New England markets. We are excited to expand our supply network on the East Coast to better serve our broad customer base and expect strong synergies with the Giant Resource Recovery fuel recycling business.”
The transaction is projected to deliver an EBITDA contribution of around US$60m in its first year, with additional significant synergies anticipated. This acquisition builds on Heidelberg Materials’ series of key investments in North America, further aligning with its strategic focus on sustainable growth and operational excellence.
