Heidelberg acquires independent Alberta aggregate producer
The assets include a high-capacity plant that is positioned to supply the Calgary market.
Heidelberg Materials has entered into a definitive purchase agreement to acquire Green Drop Rock Products located in Cochrane, Alta. Green Drop Rock Products is an independent producer of aggregates with a high-capacity plant that is well positioned to supply the Calgary market.
Heidelberg stated that the acquisition of the Green Drop Rock Products business will further strengthen the company’s aggregates reserves in the Greater Calgary area and reinforce its integrated footprint in the market. They added that the assets of Green Drop Rock Products complement their existing operations in the area.
The province of Alberta is also home to Heidelberg Materials’ Edmonton plant, where the cement industry’s first global full-scale carbon capture and storage facility is being built. The new facility is scheduled to be operational by late 2026 and will capture more than 1 million tonnes of CO2 annually.
The transaction is expected to close in early September 2023. This acquisition reflects Heidelberg Materials’ strategic plan to optimise its portfolio in core markets and strengthen its existing businesses through bolt-on acquisitions.
Heidelberg Materials is one of the world’s largest integrated manufacturers of building materials and solutions with leading market positions in cement, aggregates, and ready-mixed concrete. They are represented in more than 50 countries with around 51,000 employees at almost 3,000 locations.
