CSR Limited announced today that CSR America has entered into a letter of intent to purchase two quarries from Florida Rock, Inc. as part of CSR’s continued expansion in the US construction materials sector.
The Alico Road quarry located in Ft. Myers is on Florida’s southwest coast and serves one of Florida’s fastest growing regions, and the Palmdale Sand Mine located in south-central Florida will supply markets on both the southeast and southwest coast of Florida.
The quarries include reserves of a minimum of 15 years at current production levels.
The sale is conditional on the completion of due diligence and US Department of Justice approval of the transaction. Florida Rock was required to divest the quarries as part of their recent purchase of the nearby Harper Quarry.
These latest acquisitions bring to more than A$550 million the total investment committed to the expansion and development of CSR’s U.S. construction materials and concrete pipe businesses since March 1998.
Acquisitions, including those announced today, include four pipe businesses, two concrete products businesses, four pipeline rehabilitation companies, and five quarries. Upgrades include the Miami cement mill - expected to begin production early in 2000 - and new concrete pipe and products plants at Houston, Texas; Phoenix, Arizona; Columbia, South Carolina; and Washington, D.C.