Eagle Materials completes purchase

Eagle Materials completes purchase
Published: 12 January 2005

Eagle Materials Inc announced today that it has completed the purchase of the remaining interest in Illinois Cement Company joint venture. The purchase price was $72m in cash for the 50 per cent joint venture interest. EXP funded this transaction primarily from borrowings under a new $350m senior credit facility led by JPMorgan. Illinois Cement Company was originally formed in 1972 and operates a cement plant in LaSalle, Illinois.  Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates.