December 15, 2014 — A global producer of lime and limestone products has today announced it is entering the New Zealand market saying this shows their faith and confidence in this economy.
Holcim [New Zealand] Limited and New Zealand Steel Limited have entered an agreement for Canada based company, Graymont to purchase their shares in McDonald’s Lime.
Graymont has also entered an agreement with Holcim to acquire the assets of Taylor’s Lime from the company.
These agreements include the retention of all employees on their current terms and conditions.
“We look forward to welcoming the employees of McDonald’s and Taylor’s to Graymont,” says Graymont President and Chief Executive Officer, Stéphane Godin.
“Together we will continue to reliably deliver quality products and services to our customers and realise our world class vision built on a strong safety culture, commitment to improving environmental performance, and engagement with the communities in which we operate” he added.
This acquisition reflects Graymont’s confidence in the long-term growth prospects for the New Zealand economy and the region. The transaction is subject to obtaining all the usual regulatory approvals. It is anticipated that the transaction will be completed during 2015.
Holcim New Zealand‘s Managing Director Jeremy Smith says Graymont is the right buyer for the lime businesses and it is also another step in Holcim’s strategic plan. Holcim is moving to an imported cement model and is investing $100million in two import terminals in Auckland and Timaru to support this.
“This is also good news for the New Zealand economy with a world class business investing in these operations and entering this market for the first time,” said Mr. Smith.
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.
About Graymont
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.
For further information, contact:
Mathieu Bouchard
Vice President, Corporate Affairs,
Environment and Sustainability
GRAYMONT
T +1 450 645 2452
mbouchard@graymont.com
