Eagle Materials to buy remaining share of Illinois Cement

Eagle Materials to buy remaining share of Illinois Cement
Published: 01 December 2004

Eagle Materials Inc. announced today that it has entered into an agreement to purchase the remaining 50% interest in Illinois Cement Company joint venture for a purchase price of $72m in cash.  The Illinois Cement Company joint venture is owned 50 per cent by Eagle Materials and 50 per cent by RAAM Limited Partnership.  The joint venture, which was originally formed in 1972, operates a cement plant in LaSalle, Illinois. The transaction is expected to close early next year subject to customary conditions including applicable regulatory approvals. Eagle Materials Inc. is a Dallas-based company that manufactures and distributes Cement, Gypsum Wallboard, Recycled Paperboard and Concrete and Aggregates.