Grupo Cementos de Chihuahua (GCC) said Tuesday it has acquired Alliance Concrete Inc of Iowa, boosting its position in that US region.
In a filing with the Mexican Stock Exchange, GCC said said the acquisition will give it a presence close to US markets where it already operates and a platform for growth in South Dakota, Minnesota, Iowa and Nebraska.
GCC didn’t disclose the terms of the acquisition, which it expects will contribute immediately to earnings growth.
Alliance has 23 ready-mix concrete plants and a fleet of 104 concrete mixer trucks and 73 transport trucks. It had sales of about US$52m in 2007.