LafargeHolcim, a leading global cement and concrete company has reportedly announced the acquisition of a Denver-based ready-mix concrete company, Metro Mix. The latter, claim sources, owns two ready-mix plants in Denver, with more than 50 employees and reportedly recorded a net sale of about $30 million in 2017.
The Financial Times reports that LafargeHolcim was formed when a €41 billion merger in 2015 brought the French Lafarge together with its Swiss rival Holcim. Jan Jenisch the new CEO is apparently returning to the trail of mergers and acquisitions to augment sales. LafargeHolcim currently operates in more than 350 sites in the U.S. providing its building products and solutions across 43 states.
Jenisch has been reported to say that the purchase of Metro Mix will be marked as the fourth acquisition held this year and will contribute towards achieving the company’s goal for the ‘Building for Growth’ initiative. In addition, the deal would also add to LafargeHolcim’s 7,000-employee base in the U.S. eventually allowing the company to gain a significant share in the Denver market.
According to an official statement by LafargeHolcim, the company expects Denver’s market to achieve an above average population growth by 2020, which will eventually boost the demand for building materials in the region. Sources on the matter also state that there would be a need for about $4 billion in the building sector in the next five years and could require almost 30,000 workers.
Reports suggest that the city has cleared the trial program which requires the support of Hensel Phelps, a general contractor & construction company, to appoint a certain percentage of locals, specifically the ones who were veterans, formerly incarcerated or are living in economically disadvantaged areas.
In a bid to appoint as many Denver area residents as possible in the project, the contractors must carry out community outreach, conduct training and track performance to meet the required hiring goals, claim sources.