Essroc Cement Completes Like-Kind Exchange Transaction With LaFarge North America
We represented Essroc Cement Corp. in a significant multi-state like-kind exchange transaction with Lafarge North America. The like-kind exchange transaction involved the exchange of Essroc’s real estate and operations assets located at their Essexville, Michigan cement terminal for Lafarge’s real estate and operations assets located at their Baltimore, Maryland and Norfolk, Virginia cement terminals.
Essroc, located in Nazareth, Pennsylvania, operates cement, ready-mix and aggregate operations in the US, Canada and Puerto Rico. Essroc is the North American division of Italcementi SpA., one of the world’s largest cement and building materials producers, headquartered in Milan, Italy. The asset exchange transaction contributes to Essroc’s efforts to consolidate around core geographies and key operations, including the Mid-Atlantic region. Lafarge is also one of the largest cement, concrete and gypsum producers in the US.
The Kaye Scholer team covered corporate, real estate and tax matters and included Partner John R. Fallon Jr., Associate John Csuka, Counsel Victoria H. Frankenburg, Partner Willys H. Schneider and Counsel David A. Sausen.