Essroc Cement Completes Like-Kind Exchange Transaction with Cemex
Kaye Scholer recently represented Essroc Cement Corp. in a significant multi-state like-kind exchange transaction with Cemex, Inc. The like-kind exchange transaction involved the exchange of Essroc’s real estate and operations assets located at their Charlotte, North Carolina bulk cement terminal for Cemex’s real estate and operations assets located at their Indianapolis, Indiana bulk cement terminal.
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. Cemex is a Mexican-based company and known as one of the world’s largest building materials suppliers and cement producers.
The Kaye Scholer team covered corporate, real estate and tax matters and included Partner John Fallon, Associate John Csuka, Counsel Victoria Frankenburg and Partner Willys Schneider.