Keystone Cement in East Allen Township near Bath is getting a new owner.
HeidelbergCement of Germany said its North American subsidiary, Lehigh Hanson Inc., will be buying the plant from Giant Cement for $151 million.
The Keystone plant, which has been operating since 1928 according to a news release, supplies the Pennsylvania, New Jersey and New York markets with bulk and bagged portland cement.
The company noted that the plant operates with a kiln line which was modernized in 2009 and has a capacity of 1.1 million tons of cement per year.
Bernd Scheifele, chairman of the managing board of HeidelbergCement called it a good acquisition for the company.
“The acquisition of one of the most modern and environmentally sustainable cement facilities in the United States will further help Lehigh Hanson reduce its carbon footprint by safely substituting alternative fuels for traditional fossil fuels such as coal. In addition, we anticipate a number of operational efficiencies as a result of this transaction.”
The sale is subject to standard antitrust regulatory approval and is expected to close in the coming months.