Belgian lime producer Lhoist sells North American operations for 13.5 billion dollars
Belgian lime producer Lhoist has reached an agreement to sell its North American operations to US building materials group Martin Marietta in a deal worth 13.5 billion dollars (11.8 billion euros), the two companies announced on Monday.
Upon completion, Martin Marietta will pay 7 billion dollars in cash. In addition, the Berghmans family, owners of the Lhoist Group, will receive a 15 per cent stake in the US company, valued at 6.5 billion dollars. Lhoist CEO Philipp Niemann is to be appointed to Martin Marietta's board of directors. The companies expect to finalise the transaction in the second half of 2026, subject to the necessary regulatory approvals.
Lhoist North America operates a network of 20 quarries and production sites and 45 distribution terminals, which together generated annual turnover of 1.8 billion dollars last year. It produces high-calcium and dolomitic lime, used in the manufacturing of steel, infrastructure, and heavy non-residential construction projects across North America.
Leading US lime producer
The combined entity will become the leading national producer of lime solutions in the United States, according to Monday's press release. It has a reserve base of over 2 billion tonnes of high-quality limestone, which represents more than 200 years of useful life.
Baron Jean-Pierre Berghmans, chairman of the Lhoist Group, described Martin Marietta as a partner that shares his family's values and "honours the legacy we have carefully built and ensures it will endure for generations to come." He emphasised that the group's ambition and commitment to its remaining global operations are unchanged.
The privately held Lhoist Group operates globally across a range of industrial sectors. The company is headquartered in Limelette, in Walloon Brabant, and employs more than 6,400 people worldwide.
© BELGA PHOTO JOHN THYS
Related news
