Justice Dept. puts conditions on Vulcan Materials plan
Dec. 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.