Mexican business buys Hardesty Co.

[Relax]

From TW:
http://www.tulsaworld.com/BusinessStory.asp?ID=060430_Bu_E6_Weeki24245

Tulsa-based Hardesty Co. Inc., which does business as Mid-Continent Concrete Co., has been sold to a Mexican cement producer for $271 million.

Grupo Cementos de Chihuahua SA de CV, based in Chihuahua, said Wednesday it will acquire 100 percent of the share capital of Hardesty by Monday.

"The acquisition of Mid-Continent significantly expands GCC's footprint in the U.S.," said Manuel Milan, chief executive officer of GCC, in a news release. "This transaction reflects GCC's ongoing strategy of investing in growth and will allow us to leverage the strong continued demand forecast in the construction market."

Mid-Continent is the largest producer of ready-mix concrete in northeastern Oklahoma and northwestern Arkansas, and is among the top 25 ready-mix producers in the United States, the news release said. The company owns and operates 30 ready-mix plants in the area and operates a fleet of 250 mixer trucks.

The purchase includes Alliance Transportation, which operates 87 haul trucks to support raw materials handling for Mid-Continent and third-party customers.

[TUalum0982]

quote:Originally posted by Relax

From TW:
http://www.tulsaworld.com/BusinessStory.asp?ID=060430_Bu_E6_Weeki24245

Tulsa-based Hardesty Co. Inc., which does business as Mid-Continent Concrete Co., has been sold to a Mexican cement producer for $271 million.

Grupo Cementos de Chihuahua SA de CV, based in Chihuahua, said Wednesday it will acquire 100 percent of the share capital of Hardesty by Monday.

"The acquisition of Mid-Continent significantly expands GCC's footprint in the U.S.," said Manuel Milan, chief executive officer of GCC, in a news release. "This transaction reflects GCC's ongoing strategy of investing in growth and will allow us to leverage the strong continued demand forecast in the construction market."

Mid-Continent is the largest producer of ready-mix concrete in northeastern Oklahoma and northwestern Arkansas, and is among the top 25 ready-mix producers in the United States, the news release said. The company owns and operates 30 ready-mix plants in the area and operates a fleet of 250 mixer trucks.

The purchase includes Alliance Transportation, which operates 87 haul trucks to support raw materials handling for Mid-Continent and third-party customers.

Is this the same Hardesty family that owns US Aviation out at Tulsa Intl??

[sgrizzle]

Same family, but this transaction was really just for the concrete company.

[TUalum0982]

quote:Originally posted by sgrizzle

Same family, but this transaction was really just for the concrete company.

thanks for the info.  He has quite the collection of planes out at US Aviation.  Very nice on the inside too.  Must be why our Mayor and her husband choose to keep their jet out there.  Not to mention his new Bentley they ordered earlier this year!