Heidelberg Materials to purchase Alberta’s Green Drop Rock Products
August 24, 2023 By Rock to Road Staff
COCHRANE, Alta. – Heidelberg Materials North America has entered into a definitive purchase agreement for the acquisition of Green Drop Rock Products, an independent producer of aggregates that serves the Greater Calgary Area (GCA).
With this purchase, Heidelberg Materials will acquire Green Rock Drop Products’ high-capacity plant, which is set to join Heidelberg’s forthcoming carbon capture cement in Edmonton. Currently under construction, the new facility is expected to open in the area by late 2026.
Heidelberg said this latest acquisition will strengthen their aggregates reserves in the area, calling the GCA an attractive market.
Aggregate need in the GCA continues to be high as demand for homes remains above pre-pandemic levels. According to recent numbers released from the Canada Mortgage and Housing Corporation (CMHC), in May monthly housing starts in the area were up 17 per cent over the same month last in 2022. New construction is up 36 per cent Alberta-wide.
Heidelberg is expected to close on the deal in early September 2023.
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