Taiheiyo Cement Completes California Asset Acquisition Through CalPortland
Taiheiyo Cement's (TYO:5233) US subsidiary, CalPortland, has finalized the acquisition of ready-mixed concrete business assets in California from Vulcan Materials at an undisclosed value, according to a Tokyo bourse filing on Monday.The acquisition allows CalPortland to enter the San Francisco Bay area for the first time while strengthening its existing operations in Southern California, including the San Diego area.The company expects to realize synergies through increased sales volumes by securing stable demand for cement produced at its own plants, imported cement from group companies, and supplementary materials from business partners.The impact on consolidated financial results for the fiscal year ending March 31, 2027 has already been incorporated into the previously disclosed earnings forecast.
