Peruvian cement company Unacem has announced its acquisition of the Tehachapi cement plant in California, United States, for a value of US$317 million. The purchase, subject to evaluation by state authorities, will double Grupo Unacem’s total installed production capacity in the American Southwest, reaching 2 million tons of cement per year.
Despite facing rising costs that have affected its results, Unacem is committed to increasing its investment by 2023. The acquisition of the Tehachapi plant will strengthen the company’s regional presence and make the United States its second-largest country in terms of installed capacity and revenue generation, only after Peru.
Pedro Lerner, CEO of Unacem, expressed enthusiasm about the potential transaction, stating, “If this transaction is approved, the US would become the second country in terms of installed capacity of the Unacem Group and also as a generator of income and Ebitda, after Peru.”
With the addition of the Tehachapi plant, Unacem will now have a total of seven cement plants located across Peru, the US, Chile, and Ecuador. Their installed capacity will exceed 12 million tons of cement annually.
The Tehachapi cement plant, situated in the Tehachapi Mountains in Kern County, California, has an installed capacity of 1 million short tons of cement and 0.9 short tons of clinker. This acquisition marks Unacem’s continued commitment to strengthening its presence in the region.