Nov. 4, 1999 - Giant Cement Holding Incorporated, based in Summerville, SC, has announced that it will be bought by Cementos Portland, based in Spain, for $343.4 million. Giant Cement is the country's 15th-largest cement producer. It is the parent company of Solite, Incorporated. Cementos Portland is Spain's second-largest cement group. Giant Cement Chairman Gary
Pechota said, "Additionally, the strength of
the combined companies will benefit Giant
Cement's employees and customers. This
transaction ... positions Giant to be a strong
competitor in a rapidly consolidating
industry."
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