Skip to main content

Eagle Materials (EXP) - Get Eagle Materials Inc. Report said its half-owned Texas Lehigh unit took a stake in Houston Cement.

Houston owns two Portland cement import terminals located along the Houston Ship Channel near the big Texas city. Houston Cement is expected to have an annual throughput capacity of as much as 3 million metric tons.

As a result of this investment, Texas Lehigh owns a minority interest in Houston Cement, with Ash Grove Texas and Alamo Cement Company II owning the rest. Sales from the terminals will be managed independently by Ash Grove, Alamo and Texas Lehigh to their respective customers.

Eagle owns a 50% interest in Texas Lehigh, with Lehigh Cement Company of Allentown, Pennsylvania, a member of the HeidelbergCement Group, owning the other 50%.

TheStreet Recommends