Taiheiyo Cement's US unit acquires Vulcan’s California concrete assets for $712m

Taiheiyo Cement Corporation announced its consolidated subsidiary, CalPortland Company, has signed an agreement to acquire ready-mix concrete business assets from Vulcan Materials Company in California. The acquisition, pending regulatory clearances, is targeted for completion by December 2025. This move aligns with Taiheiyo Cement's 2024-2026 medium-term management plan to expand its US operations and enhance its supply chain.

The acquisition includes 41 ready-mix concrete plants and two cement terminals, with reported sales of $524,114 thousand for fiscal year 2024. This will enable CalPortland Company to enter new growth areas in Northern California’s San Francisco Bay Area and strengthen its existing base in Southern California’s San Diego region, addressing demand driven by AI-related data centers, power infrastructure, and residential development.

The total acquisition price is $712 million, to be settled in cash. Taiheiyo Cement anticipates this acquisition will strengthen its US ready-mix concrete business, enhance its trading network, and expand its cementitious materials business, contributing to steady growth in sales and profits.