Gray­mont com­pletes New Zealand ac­qui­si­tion

DEMM Engineering & Manufacturing - - NEWS -

Hol­cim [New Zealand] and New Zealand Steel’s agree­ment for Canada-based com­pany, Gray­mont to pur­chase their shares in McDon­ald’s Lime and Gray­mont’s agree­ment with Hol­cim to ac­quire the as­sets of Tay­lor’s Lime from the com­pany have been fi­nalised.

The pur­chase in­cludes the re­ten­tion of all em­ploy­ees on their cur­rent terms and con­di­tions and John Reeves, pre­vi­ously Gen­eral Man­ager of the New Zealand lime and lime­stone oper­a­tions, has been ap­pointed Gray­mont’s Vice Pres­i­dent for New Zealand, en­sur­ing, says Gray­mont, a seam­less trans­mis­sion.

Gray­mont said that com­ple­tion of the ac­qui­si­tion rep­re­sented a mile­stone in terms of ex­tend­ing Gray­mont’s reach be­yond North Amer­ica to serve new cus­tomers in se­lect global mar­kets. Gray­mont Pres­i­dent and Chief Ex­ec­u­tive Of­fi­cer Stéphane Godin said the com­pany has great con­fi­dence in the long-term growth prospects of the New Zealand econ­omy and the re­gion.

When the planned pur­chase was an­nounced last year, Hol­cim New Zealand’s Man­ag­ing Di­rec­tor Jeremy Smith said that Gray­mont was the right buyer for the lime busi­nesses and the pur­chase was another step in Hol­cim’s strate­gic plan, which will see the com­pany mov­ing to an im­ported ce­ment model and in­vest­ing $100mil­lion in two im­port ter­mi­nals in Auck­land and Ti­maru to sup­port this.

Smith added that a world class busi­ness such as Gray­mont in­vest­ing in these oper­a­tions and en­ter­ing this mar­ket for the first time was good news for the New Zealand econ­omy.

McDon­ald’s Lime oper­a­tions are lo­cated in the Waikato/ King Coun­try re­gion, south of Hamil­ton. Tay­lor’s Lime op­er­ates in the Otago re­gion, north of Dunedin. Both com­pa­nies sup­ply high qual­ity lime­stone and lime prod­ucts to lead­ing agribusi­nesses, re­source com­pa­nies, and man­u­fac­tur­ers in New Zealand. Gray­mont is North Amer­ica’s sec­ond largest sup­plier of lime and lime-based prod­ucts with fa­cil­i­ties across the United States and Canada, and has a sig­nif­i­cant in­vest­ment in Grupo Calidra, the largest lime pro­ducer in Mexico.

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