Eurovia signs an agreement with Salini Impregilo Group to acquire the Asphalt Plants & Paving business of Lane Construction in the United States
20 August 2018 - 8:00 am - Acquisitions - United States of America
· By acquiring one of the larger hot-mix asphalt producers in the United States,
· Eurovia doubles its size in the country, becoming one of the larger asphalt producers on the East Coast
Eurovia has signed an agreement with Salini Impregilo Group to acquire the Lane Asphalt Plants & Paving division of its subsidary Lane Construction, whose operations cover industrial and roadworks activities, for a total consideration of $555 million. These operations, based in 10 states, on the East Coast and in Texas, generate over $600 million in annual revenue and include approximately 40 asphalt-production plants and several quarries.
This acquisition complements Eurovia’s current operations in the United States where its subsidiaries Hubbard Construction and Blythe Construction operate in the Southeastern states of Florida, Georgia, North and South Carolina.
As a result of this acquisition, subject to regulatory approval in the United States, Eurovia becomes one of the larger asphalt producers on the East Coast with a total revenue of about 1.2 billion dollars.
Eurovia is a VINCI Group subsidiary and global leader in transport infrastructure and urban development. It builds roads, motorways, railways, airports and tramways, and develops industrial, commercial and urban facilities. It also delivers all the related services, including demolition, deconstruction, drainage, earthworks, utility networks, signage, bridges, tunnels and noise barriers. Eurovia’s network of industrial plants producing aggregates and other supplies for road and rail construction spans the entire supply chain. The company is operating in 16 countries, employs 39,500 people and generated €8.1 billion in revenue in 2017.
VINCI is a global player in concessions, energy and construction businesses, employing more than 260,000 people in nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, we are committed to operating in an environmentally, socially responsible and ethical manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. Based on that approach, VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.