- Associated Press - Friday, December 22, 2017

BIRMINGHAM, Ala. (AP) - Federal officials say a Birmingham-based aggregate company will have to divest 17 aggregate facilities to move ahead with a planned $900 million acquisition.

The Justice Department made the announcement regarding Vulcan Materials‘ acquisition of Aggregates USA from SPO Partners.

The department says it has reached a settlement requiring Vulcan to divest all of Aggregates USA’s quarries, plants and yards in Knoxville, Tennessee; Tri-Cities, Tennessee; and Abingdon, Virginia.

Vulcan and Aggregates USA produce and sell coarse aggregate - a type of crushed stone - to customers such as the Tennessee and Virginia Departments of Transportation. The department said in a news release that the divestiture will ensure that taxpayers in Tennessee and Virginia benefit from robust competition.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide