Boral has agreed a US$127 million deal to sell its Concrete & Quarries business in Denver, Colorado to Brannan Sand and Gravel Company.
Boral has owned the Colorado construction materials operations since 2004 and they are the only concrete and quarry operations that the company owns in the USA.
Boral’s CEO and Managing Director, Mike Kane, said the proceeds of the sale of this non-core business will go towards reducing the company’s debt.
“Boral’s strategy in the USA is focused on growing our building products and fly ash businesses,” he added.
“As we continue to strengthen our core business and deliver synergies from the Headwaters acquisition, the time is right for Boral to realise value by divesting the construction materials business in Colorado.”
The transaction – subject to customary regulatory approvals – is expected to complete on or around 31 May 2018.