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Elementia, S.A.B. de C.V. announced on October 13 that it signed a letter of intent with Cementos Portland Valderrivas, S.A., to acquire 55 percent of Giant Cement Holding, Inc.

Giant Cement has well-established operations on the East Coast of the United States, including three cement plants, three limestone quarries, two aggregate quarries, six terminals, four waste handling facilities, as well as reputable brands with a solid customer base.

"The Giant acquisition will grant Elementia access to the third biggest cement market in the world," Elementia said.

The acquisition is subject to obtaining all applicable regulatory approvals and the completion of the internal processes by both companies.

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