Eagle Materials completes purchase

Eagle Materials completes purchase
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. 
Published under Cement News