Taiheiyo Cement Corp. said Wednesday it has acquired a US concrete maker for an undisclosed sum on Tuesday to bolster its North American operations.
California Portland Cement Co., a wholly owned unit of a Taiheiyo Cement U.S. subsidiary, bought all shares in SSMC Holdings Corp., the parent of Las Vegas-based concrete maker Silver State Materials LLC.
Silver State Materials operates eight ready-mixed concrete plants in and outside Las Vegas, while California Portland Cement owns no such plant in the city.
The Taiheiyo Cement group decided on the acquisition to bolster its operations mainly in the city, the Japanese parent firm said.
Taiheiyo Cement said the acquisition will not cause any change in its consolidated earnings estimate for fiscal 2007, which ended Monday.